Bitcoin as a way of evaporating the middle class / transfer wealth

[skOsH♥]

Sorry to say it, but it's pretty obvious what is happening

Bitcoin and other crypto has gone from decentralization to centralization, and no one wanted that

Bitcoin keeps capitulating

Inflation keeps increasing, and crypto keeps crashing. This makes me strongly suspect that people are really struggling to make expenses, so they keep selling their crypto for fiat

Also, it seems like there are only a small amount of "whales" for most cryptocurrencies, and it seems like they coordinate buys and sells to influence the market

I have seen bitcoin since its inception to now, and it looks like a giant pyramid scheme

-People made it incredibly rich off bitcoin
-This caused prices to increase since people were now wealthy and willing to spend more
-Increasing the power of fiat currency by spending more
-Large dilution of fiat by printing more fiat, thus allowing people to buy up large amounts of bitcoins
-Organized crash of bitcoin by massive inflation to force people to bleed from crypto to fiat to pay bills
-A large upward transfer of wealth in may 2020.
-the richest people start buying bitcoin
-organized crash
-more buy it

Now I think other people that have been around since this all started, have finally realized that this is a giant turd. This is like a timeshare, only a money sharing experiment gone wrong.

Prove me wrong. What can crypto accomplish that anything else can't? Money laundering? Ooo. Not really

Cointelegraph keeps trying to control FUD by writing articles saying that bitcoin is going to be alright.

It's kind of hilarious.

It's too bad there's not actual decentralized currency.

Did y'all really think that bankers and powerful people would allow non powerful people to become powerful people? Nah.

Can't wait to use thousands of bitcoins on a single pizza again, lol. Sure, the ROI is still amazing if you got in at $56 or lower, which almost no one did. If they did, they cashed out for fiat, almost all of them did....so now all the large corporations and extremely wealthy people are buying all the bitcoin

It's just another ploy to bleed out the middle class. It's kind of sad.

[Dallas S]

Автор сообщения: Castyles

Автор сообщения: Psychotron69666

Ammunition will be the currency of the mad Max times. ♥♥♥♥ doesn't age out and is always relevant.

Nope. It's gonna be water and gasoline, like it was shown in the movies. Save them while you still can.

Gas goes bad quickly, and ammunition gives you access to other people's gasoline and water

[Under there]

Mad Max world is not coming. The future is Orwellian, not Huxley. Your stress tolerance has been tried and tested and they have a measure of how much pleasure it takes to placate you. The future will be really lame.
Expect Ready Player One, not Fallout.

[Irene ❤]

It's a bubble, simple as that.

There is no growth. It's unlike any product or property investment. Just people who put money there and hopefully more people put money there so the previous people can use their money.

You will read about so and so earning a lot of money. Those are baits - wanting you to put yours.

It will came a time where people will stop adding money into the system, when that happens everyone will cash out and instantly crash it once and for all. That's where the bubble burst and the experts will claim the rich control it, the middle class inflate it and so on.. but it's just a bubble and nothing more.

[Uncle Sam]

Автор сообщения: Eeeaea

Mad Max world is not coming. The future is Orwellian, not Huxley. Your stress tolerance has been tried and tested and they have a measure of how much pleasure it takes to placate you. The future will be really lame.
Expect Ready Player One, not Fallout.

Don't forget to add a bit of Kafka on the Orwellian mix, because this will be a very interesting decade & century.

[UmmUmBurst]

Автор сообщения: Grendalcat

Автор сообщения: Shakey

Not even. Who is gonna be after gold if civilization collapses? The Brotherhood of Steel? The Institute?

You'd be better off investing in spring water, generators, and tools.

Civilizations have collapsed many times throughout history. Gold has been a store of value through them all.

What is an individual gonna do with gold during a collapse? Hope people don't steal it off you?

[Clanks]

Автор сообщения: Castyles

Just do the Musk. Dump all your cash into one coin, wait for everyone else do the same to raise it's price and then, when it's high enough, sell everything off and watch the boulevard of broken dreams unfold.

Isn't that illegal?

[Holografix]

Автор сообщения: Irene ❤

It's a bubble, simple as that.

There is no growth. It's unlike any product or property investment. Just people who put money there and hopefully more people put money there so the previous people can use their money.

You will read about so and so earning a lot of money. Those are baits - wanting you to put yours.

It will came a time where people will stop adding money into the system, when that happens everyone will cash out and instantly crash it once and for all. That's where the bubble burst and the experts will claim the rich control it, the middle class inflate it and so on.. but it's just a bubble and nothing more.

smart opinion.

[Under there]

Автор сообщения: Irene ❤

It's a bubble, simple as that.

There is no growth. It's unlike any product or property investment. Just people who put money there and hopefully more people put money there so the previous people can use their money.

You will read about so and so earning a lot of money. Those are baits - wanting you to put yours.

It will came a time where people will stop adding money into the system, when that happens everyone will cash out and instantly crash it once and for all. That's where the bubble burst and the experts will claim the rich control it, the middle class inflate it and so on.. but it's just a bubble and nothing more.

The only way crypto as a whole will "pop" is if a massive EMP blankets the entire world and scrambles every last inch of internet.
Coins can be bubbles, cryptocurrency as a concept though is just another way to store wealth even if some are speculating coins like people did currencies before crypto. Storing wealth is how the obscenely rich manage to avoid being taxed or going broke if they have to file bankruptcy.

[Magma Dragoon]

Автор сообщения: Shakey

Автор сообщения: Grendalcat

Civilizations have collapsed many times throughout history. Gold has been a store of value through them all.

What is an individual gonna do with gold during a collapse? Hope people don't steal it off you?

exchange it for goods and services

[permanent name]

It’s like they made a regulation-free zone just so they collapse it and go “look you NEED a banking class” and it’s not dying because wealthy people support it.

[Asher]

Автор сообщения: Shakey

Автор сообщения: Grendalcat

Civilizations have collapsed many times throughout history. Gold has been a store of value through them all.

What is an individual gonna do with gold during a collapse? Hope people don't steal it off you?

..What currency do you think people used before this scam we have called fiat? People aren't going to trade bottlecaps like in fallout if things ever go bad. People will go back to using what was used before for almost the entirety of human history.

[Asher]

Автор сообщения: Yew Nough

Автор сообщения: temper

..What currency do you think people used before this scam we have called fiat? People aren't going to trade bottlecaps like in fallout if things ever go bad. People will go back to using what was used before for almost the entirety of human history.

Which is bartering, which is not perfect, which is why the scam called "fiat currency" exists.

And understand that fiat isn't inherently a scam, but the way it's used by those who created it has made it a scam.

We don't have to choose between bartering and fiat. Things were fine when money had an intrinsic value and wasn't printed out of thin air. Fiat by itself is worthless and needs something like the gold standard.

If you don't have the gold standard.. well you can take a lot at America's inflation chart.

[nullpo]

Another hot take by the nihilist economist. I'll leave ya all internet philosophers to debate each other

[DylanGayGenius]

cryptocurrency is a scam. everyone knew this already.

[Menzagitat]

Автор сообщения: d¢

It's too bad there's not actual decentralized currency.

Why?
State control is bad?