eric_cc

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361.
by eric_cc 5y ago
> History tells us exactly what that world would look like Source? > You’re probably imagining yourself to be in that 1% My dream is much simpler. I’d like more time with my wife and daughter.
362.
by eric_cc 5y ago
I do speculate that there will be a massive number of casualties during the transition from fiat to cryptocurrencies, sadly. But it’s NOT the goal. I just don’t believe it is possible to cleanly move from fiat to cryptocurrency in a clean,
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by eric_cc 5y ago
No the point is that there are major losers in the current paradigm. Here are 19 other countries with double-digit inflation right now: https://www.statista.com/statistics/268225/countries-with-th... My speculatio
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by eric_cc 5y ago
That would be really sad and I genuinely hope it doesn’t happen that way. Honestly, it’s one of my biggest fears. How do we make such a seismic shift with the fewest number of casualties? > crypto-bros This makes me lose respect for your
365.
by eric_cc 5y ago
https://en.m.wikipedia.org/wiki/List_of_countries_by_inflati... https://www.statista.com/statistics/268225/countries-with-th... Damn pesky facts. Always messing up the way you Feel!
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by eric_cc 5y ago
This is not a good comparison to cryptocurrency for many reasons. Crypto is global, inclusionary, no worry about counterfeits, highly liquid, etcetc
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by eric_cc 5y ago
Sadly I think the only people that would do the extra step will be older people who grew up with USD and still desire it. Do you mentally compare USD to other random obscure currencies? Of course not. And in a future when USD has been repla
368.
by eric_cc 5y ago
> the only point of it is to buy it low, and sell high, for USD Until the point that nobody wants to be the USD bag holder. Plenty of boomers still don’t think of saving USD as a terrible idea because they were trained their whole life t
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by eric_cc 5y ago
> Literally the rest of the earth manages to get along just fine. This is absolute bullshit. Literally your little bubble in your mind manages to get along just fine.
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by eric_cc 5y ago
Dude… Venezuela, for example?
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by eric_cc 5y ago
Nice try, India!
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by eric_cc 5y ago
Freedom has a cost. If people kept it simple and bought crypto like bitcoin or ethereum, they’d be fine. They get lured into get-rich-quick scams because of poor education and decision making skills.
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by eric_cc 5y ago
Crypto is not about tax evasion and privacy. Bitcoin is radically transparent. The beauty of bitcoin is that the monetary policy is immutable and you understand exactly how the future looks for it. With fiat currencies, you have to have rel
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by eric_cc 5y ago
Exactly. Plus, when provided a system that requires no trust (BTC, for example) why would anybody prefer a system that requires massive trust and faith (fiat currencies)?
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by eric_cc 5y ago
But in this case, crypto is superior to government created currency is just about every objective way. The only argument I feel is still valid is in regards to volatility. But that is mostly because crypto is still tethered to fiat trading
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by eric_cc 5y ago
> Crypto is only fun when it’s arbitrarily going up in value If you treat it like a casino then that is true. Ideally, it takes over fiat currencies altogether and takes away the government’s ability to Arbitrarily create money out of th
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by eric_cc 5y ago
Government printing fiat is fantastic for the government. Government controlled currency is terrible for individual freedom and for democracies. We just never had an alternative before. Stripping away this power from the government is anoth
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by eric_cc 5y ago
The hope is that in the future crypto breaks free of the connection to fiat. Rather than comparing crypto against $USD it will be compared against $BTC. This is why it’s essential for $BTC to maintain and expand upon its role as a source of
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by eric_cc 5y ago
So what you're really saying is: > Joe Rogan [has PEOPLE I DISAGREE WITH] on his show.. THAT is where the danger comes in.
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by eric_cc 5y ago
Ooof you could never convince me again to tether my head to my phone with a cord. No way!
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by eric_cc 5y ago
> Examples here are (again) the cryptocurrency scene which has been pretty good at othering critics as “no-coiners” or lately with the phrase “have fun staying poor”. I’m somebody that spends a good deal of time thinking deeply on crypto
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by eric_cc 5y ago
Crypto is one of the great revolutions of the past several hundred years in terms of disrupting the world order and rearranging power on a global level. Few understand this yet.
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by eric_cc 5y ago
> There are no reasons to be bullish about currencies, that’s not their purpose. Whether you hold currencies, stocks, cryptos - these are all positions with various possible outcomes. A currency can become worthless through hyperinflatio
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by eric_cc 5y ago
> you don't want a "bull case" for a currency. Yes you do. Because currencies are a position to store value just like every other “investment”. Currencies can go bad and become literally worthless via hyperinflation, for e
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by eric_cc 5y ago
You can’t avoid being a speculator. Any currency or asset you hold is your speculative position. You may believe that one position is more speculative than another. But fiat currencies can go into hyperinflation and become worthless, for ex
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by eric_cc 5y ago
Wouldn’t Occam’s razor favor bitcoin over the usd in the long run? Bitcoin monetary policy is dead simple and sound. USD not so much. I can’t think of any advantage to usd unless you consider having physical money an advantage (eg paper bil
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by eric_cc 5y ago
> It's like seeing a lotto ticket No, it’s nothing at all like that. The value of crypto was obvious very very early on. It was never going to crash and burn. Sure a black swan event could have wiped it out and still may. But based
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by eric_cc 5y ago
> lack of ability to use cryptocurrency You can transact at any store that accepts credit cards with a crypto credit card. There are countless uses for blockchains now from DeFi, gaming, social networks, NFTs, entertainment streaming, DA
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by eric_cc 5y ago
BTC didn’t drop in value did it? 1 BTC is worth 1 BTC. The fed manipulating the USD and affecting the trading pair of USD/BTC is probably what you’re referring to.
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by eric_cc 5y ago
Just because an argument is not popular does not indicate it is false.

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