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Whilst hoping that their savings don't get further devalued by extreme price volatility. In the last month I have watched my crypto holdings fluctuate by somet
by tomc1985 5y ago
Whilst hoping that their savings don't get further devalued by extreme price volatility.
In the last month I have watched my crypto holdings fluctuate by something like 50%. There is no way in hell I would use crypto as a store of value for anything I cared about under those conditions.
- rmbyrro 5y agoIf you want to peg your wealth to the USD, use a stable coin pegged to it. That's what Russians seem to be doing right now. What you are saying would be similar to: there's no way I would use the financial system, look how the futures exchange is volatile! Just keep it in cash, then, but you don't have to ditch the entire system because parts of it are volatile.
- tomc1985 5y agoDoes the futures market swing 50%? Sure the smart ones use a stablecoin. But what about everyone else?