B0ycey wrote:Actually @colliric the Tulip bulb analogy makes perfect sense given that Crypocurrencies aren't like other currencies as there is no national liability against them, interest or taxation to support it. Crypocurrencies are merely a medium of exchange and no different than a piece of paper that says IOU on it. Besides, I don't know how much you know about the Tulip bulb fiasco (very little it seems), but people didn't buy bulbs to plant them. They bought them to sell on - very much like Crypocurrencies today. People saw the price kept going up and as such wanted to be part of it - very much like Crypocurrencies today. And like Crypocurrencies in the future, those who hold the bulbs last lose out and those who sold out early get their rewards which is the destiny of all this especially when nations create their own Crypocurrencies in the future making all others completely obsolete.
Also, the DotCom bubble is different to all this given there is an actual product in digital shares. The bubble was created by people seeing the potential and then bidding up the price resulting in an overvalue that burst. Netflix and Uber are still worth something which is more than I can say for Crypocurrencies which are merely equations and numbers and has as much commodity as fresh air.
... Um no. This is totally wrong. That would make sense prior to 1929, but after the crash of 1929 no.
The lesson investors learnt from the great depression is to stop the crash immediately by buying even more and sending the price quickly back up. That's why crashes have not lasted more than 1 day since then.
People are buying Crypto and legit storing it on what are called Cold Wallets so it is not entirely online currency and can in fact ultimately be "minted" and used physically(there are companies that are now printing physical Crypto coins that are cold wallets).
And dude, do I need to point out to you it is in fact a legal way to avoid paying taxation? Do you not understand how much of a global market there is for investing permanently in Crypto currency in order to screw the Democrats (because it's mainly them and other high taxation left wing parties) out of taxes?
Crypto can be bought, downloaded to a cold wallet, buried(or locked in a safe) and hidden. When the Republican gets in and lowers Taxes and de-regulates shit.... Dig it back up.
Preppers buy, bury and wait for the Republican. As usual.