Asudox@lemmy.worldM to Ask Lemmy@lemmy.world · edit-26 months agoWhat's your opinion about the future of cryptocurrencies?message-squaremessage-square69fedilinkarrow-up159arrow-down17
arrow-up152arrow-down1message-squareWhat's your opinion about the future of cryptocurrencies?Asudox@lemmy.worldM to Ask Lemmy@lemmy.world · edit-26 months agomessage-square69fedilink
minus-squarePons_Aelius@kbin.sociallinkfedilinkarrow-up16·edit-26 months ago you seem to think about cryptocurrencies like gold as well; an investment. because that is what it actually is used for. My question was about the future of them as a normal currency That is dead and burred. The one thing a currency needs is a relatively stable value, otherwise it is useless as a medium of exchange…ie: money. While crypto is as stable as that bear that ate a couple of kg of cocaine. I think of it as a ponzi scheme because that us what it has become.
minus-squareTheGalacticVoid@lemm.eelinkfedilinkarrow-up3arrow-down3·6 months agoFrom the perspective of the developed world, crypto is unstable. It many countries, though, their home currency could be less stable.
minus-squareilmagico@lemmy.worldlinkfedilinkarrow-up1arrow-down1·edit-26 months agoPeople who downvoted never heard of Argentina, for example, where their currency is so bad that individual provinces have started creating their own local currencies instead. https://www.bloomberg.com/news/articles/2024-01-19/defying-milei-s-austerity-argentina-province-plans-own-currency https://www.coindesk.com/markets/2024/02/12/tether-and-circle-stablecoin-purchases-dominate-in-argentina/ https://www.forbes.com/sites/digital-assets/2023/04/26/crypto-usage-rises-across-argentina-despite-the-anti-crypto-imf-deal/?sh=7631cd706ece
minus-squareShardikprime@lemmy.worldlinkfedilinkarrow-up2arrow-down1·6 months agoThey don’t need to know anything, as exalted first world white men, it’s their burden to enlighten the brown people’s from their ignorance
because that is what it actually is used for.
That is dead and burred.
The one thing a currency needs is a relatively stable value, otherwise it is useless as a medium of exchange…ie: money.
While crypto is as stable as that bear that ate a couple of kg of cocaine.
I think of it as a ponzi scheme because that us what it has become.
From the perspective of the developed world, crypto is unstable. It many countries, though, their home currency could be less stable.
People who downvoted never heard of Argentina, for example, where their currency is so bad that individual provinces have started creating their own local currencies instead.
https://www.bloomberg.com/news/articles/2024-01-19/defying-milei-s-austerity-argentina-province-plans-own-currency
https://www.coindesk.com/markets/2024/02/12/tether-and-circle-stablecoin-purchases-dominate-in-argentina/
https://www.forbes.com/sites/digital-assets/2023/04/26/crypto-usage-rises-across-argentina-despite-the-anti-crypto-imf-deal/?sh=7631cd706ece
They don’t need to know anything, as exalted first world white men, it’s their burden to enlighten the brown people’s from their ignorance