Perhaps Americans don’t see the point of crypto since USD is the world reserve currency for now, but cryptocurrency has been a great way to have economic non-cooperation with authoritarian regimes.
When the government can inflate the currency at whim to pay out their billionaire friends while leaving the common man to suffer, crypto is a nice escape hatch since it has a fixed inflation rate. You don’t have to worry about government supression of funds for journalists either.
Bitcoin’s proof-of-work blockchain is to usable crypto-currency what tulips futures are to fiat currency.
And while the literal supply of bitcoin is predictable, it’s also as a store of value extremely deflationary by intent. Which makes it far closer to a bond or stock than it does a usable “currency”.
I agree. Bitcoin has become more of a store of wealth than an actual currency. Similar to gold. If you live in an authoritarian and corrupt regime and need to use money, I’d suggest Monero (XMR).
Perhaps Americans don’t see the point of crypto since USD is the world reserve currency for now, but cryptocurrency has been a great way to have economic non-cooperation with authoritarian regimes.
When the government can inflate the currency at whim to pay out their billionaire friends while leaving the common man to suffer, crypto is a nice escape hatch since it has a fixed inflation rate. You don’t have to worry about government supression of funds for journalists either.
Bitcoin’s proof-of-work blockchain is to usable crypto-currency what tulips futures are to fiat currency.
And while the literal supply of bitcoin is predictable, it’s also as a store of value extremely deflationary by intent. Which makes it far closer to a bond or stock than it does a usable “currency”.
I agree. Bitcoin has become more of a store of wealth than an actual currency. Similar to gold. If you live in an authoritarian and corrupt regime and need to use money, I’d suggest Monero (XMR).