Message from @Beef Taquitos
Discord ID: 481154926341521419
the value is gonna become very boring, but right now its early investor speculation hysteria
high risk high reward
its in a bit of a catch 22 atm
you need people to start accepting it at a more fixed price. Its hard to do that without making it more main stream which can be fixed by paying people directly with it which is hard to do because of the price flux which is caused by not many people accepting it
for socialist hyper inflation countries, the price is incredibly stable in comparison
crypto is not really that useful for 1st world countries yet
there needs to be something they can use as a standard to anchor it
without it, the price is extremely relative
at least to start
like someone needs to go "this is worth x of a bitcoin." and just not change it
there are tethered crypto currencies, there are many solutions competing with each other
yeah idk if that helps either ironically
holy shit watching the VFN video of the protest thing is pretty great
when the trump side dude with the megahorn started chanting "NAZIS GO HOME" with them one of the antifa guys shouted back "THIS IS OUR HOME!!!" which just... ahhhh... so good.
then there is the problem of people not trusting it because of the possibility of governments bring legislation down on you for using it.
like, if a government makes it illegal to use crypto, what then?
then you use it anyway
then you encrypt your use of crypto. Fuck rules that are unacceptable.
who is gonna protect you?
laws should be used to prevent harm and that's about it
an ISP?
what are you going to buy with it? foreign items only?
can't buy anything domestic
not without converting it into the local currency
when you restrict the market you create a black market, some countries have huge illegal black markets
because people need to be able to trade to eat
Because trading things out of the country and back in via something like the stock market isn't already a thing that happens.
yeah, how many normies use a black market?
you need normies to get this more stable
i dunno, ask venezuelans
if they dont use black markets they die
you think a place like America banning cryptos would turn into Venezuela overnight?
most people don't want to be labeled a criminal
you see how much prices fluctuate every time the government talks about messing with cryptos.
that is a problem for stabilizing the price
the US isn't gonna ban the dollar
did someone say that?
(nor stop making it, which is a problem)
happened earlier this year or last year when they talked about coming after people for income tax. or blocking it due to its use in the black market
like i said, all catch 22s
my point is basically that desperate economies will adopt crypto before spoiled westerners do