To all the guys active in this thread and will be active in the future, I’m interested to see their replies once these cryptos bubble is burst.
I read somewhere that fiat money will be doomed in future, hopefully it does
Better to trust crypto than this guy. Because we have fiat currency. It created by two ways
- When central banks print notes
- When some idiot or entity takes loan credit cards , this is called credit.
92% of above currency supply is created in the banking system(credit) than the central bank. So most of your money is Nothing but printed piece of paper and some numbers typed in computer. That’s it.
When currency supply expands inflation rises purchasing power is stolen. When currency supply shrinks deflation happens and purchasing power returns. Unfortunately under fiscal and monetary policy govt keeps printing like idiots with ever increasing currency supply
The reason crypto and gold can be trusted well is simple fact that you can’t print it. Gold can’t be printed and so is crypto, this is why they retain value. Central banks and the banking sector fear this a lot.
Watch hidden secrets of money by mike maloney in youtube. It explains monetary policy well
It’s either worth something or it’s worth nothing.
simple analogy of gold & crypto
I am actually repeating myself over here.
Was thinking of posting this in the “stock market humour” group….
Every person has a different view about anything but crypto can be trusted. Also, the government started regulating transactions related to crypto, so it is not an untrustworthy investment. However, due to high volatility, it is hard to predict the value of cryptocurrencies.
Trust is needed to a certain extent to get started with crypto trading. No one would invest their hard earned money in something they don’t trust unless they are gamblers. I think those who trust crypto are actively trading or investing in them and those who don’t just simply stay away from them. Both parties are doing the right thing from their perspective and investing is always a personal choice. Personally I do trust crypto currency and believe they have great potential for generating profits which has been proved to be true over the course of time. The market is risky and will witness ups and downs from time to time. But the trust will be intact as long as the crypto currency market manages to bounce back and recover.