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> Who can look me in the eye with a straight face and say bitcoin protects against volatility I can do so. As volatile as crypto is, it is still much less vola

by stale2002 4y ago

> Who can look me in the eye with a straight face and say bitcoin protects against volatility I can do so. As volatile as crypto is, it is still much less volatile than a national currency in a collapsing country. People in the west and in 1st world countries are much too privileged to see this though.

NikolaNovak 4y ago
>>People in the US or Europe are much too privileged to see this though. I have no idea why you'd think so, thank you very much. https://en.wikipedia.org/wiki/Economy_of_the_Socialist_Federal_Republic_of_Yugoslavia#Collapse_of_the_Yugoslav_economy https://en.wikipedia.org/wiki/Economy_of_the_Socialist_Feder... https://en.wikipedia.org/wiki/Hyperinflation_in_the_Federal_Republic_of_Yugoslavia https://en.wikipedia.org/wiki/Hyperinflation_in_the_Federal_...
- stale2002 4y ago
  > no idea why you'd think so You have no idea why Id think the average person living in the west right now is dealing with significantly less problems than people living in a country that is experiencing full scale economic collapse? Really? I think it is pretty self evident that most people living in the west are dealing with much smaller problems than people living in places like Lebanon right now. If someone is unable to see this pretty basic fact, that their lives are likely much better than the people experiencing full scale economic collapse, then I guess that privilege is stronger than I expected.
  - aaaaaaaaata 4y ago
    The West is just doing it in slower motion due to having more knobs to pull to let steam out of the reactor — so to speak.
  - NikolaNovak 4y ago
    I have replied to your original comment, as it was written then. You have now edited it, which fair enough, but therefore I think your "really? You can't imagine why I'd say this [...]" Is unwarranted and I cannot meaningfully address it anymore.
    - stale2002 4y ago
      Great, so then you agree with me completely that people living in the west are dealing with significantly less problems than people who are living in an collapsing economy, which is my point.
- jokethrowaway 4y ago
  When people say Europe they don't understand it means so many countries, they just think of France, Italy and Germany.
wizofaus 4y ago
If it were true that somehow a crypto currency could hold its own in a collapsing economy surely it would just lead to massive queues/shortages? If the economy isn't producing enough it really doesn't matter what sort of currency you use, it's gonna be bad for almost everyone. It may make some difference in terms of foreign debt.
- stale2002 4y ago
  > If it were true that somehow a crypto currency could hold its own in a collapsing economy I am not sure why you are speaking in hypotheticals. The economy of lebanon did collapse. And if you were holding bitcoin, you'd be much better off than holding that local currency. Economies collapse all the time, around the world. And because the coin is a global market, it is insolated from local collapse. > it really doesn't matter what sort of currency you use But it did matter! Just look at the current situation, in Lebanon right now. If you were holding the local currency, you'd be screwed. If you were holding a global currency, you'd be much better off.
  - wizofaus 4y ago
    Assuming you could buy basics from an international market and somehow get them delivered to you at a reasonable price using said global currency, true. But how realistic is that?
    - deleted 4y ago
      [deleted]
  - ip26 4y ago
    Would you be? If the economy doesn't produce enough food, what food there is just goes up in price. You can say "buy from the global market" but that requires having money, a tall order for a country with a weak economy.
    - stale2002 4y ago
      > Would you be? Think about the existing right now situation. Imagine if someone, in lebanon, had 50k USD equivalent, in a lebanon bank. Now, imagine the same person, who had 50k equivalent value, in not the lebanon bank. Who's better off? Clearly the person who had the global currency. > You can say "buy from the global market" but that requires having money Oh, you mean like the money that now wasn't confiscated or inflated away to being worthless? That money? Yes, that is what you would use the money for. The money that now wasn't taken away, or was not made worthless, is what you would use to buy things. Situation A: you have no money. Or you have 10 thousand percent inflated money. Situation B: you do have money, in a global currency. And yes that money can be used to buys things from the international market. Situation B is better. Much better.
headsoup 4y ago
Unless your crypto is with one of the many exchanges currently in the process of collapsing and blocking withdrawals... While the rich guys running the show walk away with mass profits. Yeah, definitely better. You're basically making the same argument as 'just swap all your money for a different currency.'
- deleted 4y ago
  [deleted]
headsoup 4y ago
Unless your crypto is with one of the many exchanges currently in the process of collapsing and blocking withdrawals... While the rich guys running the show walk away with mass profits. Yeah, definitely better. You're basically making the same argument as 'just swap all your money for a different currency.' It's interesting, I seem to always see these comments on behalf of people who might find crypto useful to avoid local currency issues, not people actually doing it.
- RestlessMind 4y ago
  > Unless your crypto is with one of the many exchanges Bitcoin believers always say - "not your keys, not your coins". I am sure you have heard it a million times by now since you also seem to be keeping tabs on which crypto exchanges are collapsing.
  - headsoup 4y ago
    I think Crypto sceptics are the ones more likely saying "not your keys, not your coins..."
    - aaaaaaaaata 4y ago
      Either or: the tech flourishes with this use.

NikolaNovak 4y ago

>>People in the US or Europe are much too privileged to see this though. I have no idea why you'd think so, thank you very much. https://en.wikipedia.org/wiki/Economy_of_the_Socialist_Federal_Republic_of_Yugoslavia#Collapse_of_the_Yugoslav_economy https://en.wikipedia.org/wiki/Economy_of_the_Socialist_Feder... https://en.wikipedia.org/wiki/Hyperinflation_in_the_Federal_Republic_of_Yugoslavia https://en.wikipedia.org/wiki/Hyperinflation_in_the_Federal_...

stale2002 4y ago
> no idea why you'd think so You have no idea why Id think the average person living in the west right now is dealing with significantly less problems than people living in a country that is experiencing full scale economic collapse? Really? I think it is pretty self evident that most people living in the west are dealing with much smaller problems than people living in places like Lebanon right now. If someone is unable to see this pretty basic fact, that their lives are likely much better than the people experiencing full scale economic collapse, then I guess that privilege is stronger than I expected.
- aaaaaaaaata 4y ago
  The West is just doing it in slower motion due to having more knobs to pull to let steam out of the reactor — so to speak.
- NikolaNovak 4y ago
  I have replied to your original comment, as it was written then. You have now edited it, which fair enough, but therefore I think your "really? You can't imagine why I'd say this [...]" Is unwarranted and I cannot meaningfully address it anymore.
  - stale2002 4y ago
    Great, so then you agree with me completely that people living in the west are dealing with significantly less problems than people who are living in an collapsing economy, which is my point.
jokethrowaway 4y ago
When people say Europe they don't understand it means so many countries, they just think of France, Italy and Germany.

wizofaus 4y ago

If it were true that somehow a crypto currency could hold its own in a collapsing economy surely it would just lead to massive queues/shortages? If the economy isn't producing enough it really doesn't matter what sort of currency you use, it's gonna be bad for almost everyone. It may make some difference in terms of foreign debt.

stale2002 4y ago
> If it were true that somehow a crypto currency could hold its own in a collapsing economy I am not sure why you are speaking in hypotheticals. The economy of lebanon did collapse. And if you were holding bitcoin, you'd be much better off than holding that local currency. Economies collapse all the time, around the world. And because the coin is a global market, it is insolated from local collapse. > it really doesn't matter what sort of currency you use But it did matter! Just look at the current situation, in Lebanon right now. If you were holding the local currency, you'd be screwed. If you were holding a global currency, you'd be much better off.
- wizofaus 4y ago
  Assuming you could buy basics from an international market and somehow get them delivered to you at a reasonable price using said global currency, true. But how realistic is that?
  - deleted 4y ago
    [deleted]
- ip26 4y ago
  Would you be? If the economy doesn't produce enough food, what food there is just goes up in price. You can say "buy from the global market" but that requires having money, a tall order for a country with a weak economy.
  - stale2002 4y ago
    > Would you be? Think about the existing right now situation. Imagine if someone, in lebanon, had 50k USD equivalent, in a lebanon bank. Now, imagine the same person, who had 50k equivalent value, in not the lebanon bank. Who's better off? Clearly the person who had the global currency. > You can say "buy from the global market" but that requires having money Oh, you mean like the money that now wasn't confiscated or inflated away to being worthless? That money? Yes, that is what you would use the money for. The money that now wasn't taken away, or was not made worthless, is what you would use to buy things. Situation A: you have no money. Or you have 10 thousand percent inflated money. Situation B: you do have money, in a global currency. And yes that money can be used to buys things from the international market. Situation B is better. Much better.

headsoup 4y ago

deleted 4y ago
[deleted]

headsoup 4y ago

Unless your crypto is with one of the many exchanges currently in the process of collapsing and blocking withdrawals... While the rich guys running the show walk away with mass profits. Yeah, definitely better. You're basically making the same argument as 'just swap all your money for a different currency.' It's interesting, I seem to always see these comments on behalf of people who might find crypto useful to avoid local currency issues, not people actually doing it.

RestlessMind 4y ago
> Unless your crypto is with one of the many exchanges Bitcoin believers always say - "not your keys, not your coins". I am sure you have heard it a million times by now since you also seem to be keeping tabs on which crypto exchanges are collapsing.
- headsoup 4y ago
  I think Crypto sceptics are the ones more likely saying "not your keys, not your coins..."
  - aaaaaaaaata 4y ago
    Either or: the tech flourishes with this use.