The World Bank refuses to help El Salvador's Bitcoin implementation

duckofdeath

Posts: 448   +586
“You don’t know where the money is coming from”

Crypto is non-fungible. By this single line you proved you have no idea what you’re talking about. You can see exactly where the coin you have has been since it’s creation.
That is the dumbest response I've ever read. If you'd read my post instead of getting triggered like that you could have saved us both o lot of time.
 

Danny101

Posts: 1,827   +790
Nonsense, it's backed by the full faith and credit of the USA.
Except, the U.S. government is in debt way pass it's eyeballs. Likely a debt that can never be paid back. Full Faith and credit is a joke. War is likely the inevitable outcome of this disaster.
 

Danny101

Posts: 1,827   +790
The US Dollar is backed by thousands of nuclear weapons, Lockheed Martin stealth fighters and a whole lot of soldiers.
In short, the FED dollars is backed by war, or at least the threat of it. What happened to Libya when tried to pull out of the FED central bank financial system? Makes me wonder if that was the true reason of war against Iraq in 2003.
 
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Shadowboxer

Posts: 1,717   +1,322
It’s amazing how little the general public know about crypto currency. It’s no Ponzi scheme, its quite straightforward, the coins are hard to find as you to mine (hash) for them and this makes them rare just like how finding gold when you dig is rare. They use a blockchain to ensure people don’t just create digital copies and to ensure unique coins.

Put it this way, if your government decided to start printing money and say distributing it via stimulus checks, this will cause inflation and devalue the entire currency. This can be extreme (look up the German weimar republic that witnessed comic levels of inflation after the great war). But this can’t happen with crypto currency. It’s immune to manipulation from governments and bankers. It won’t go away, in theory it should stand the test of time. Well, unless someone develops a super computer capable of hashing fast enough to find all the coins. But this is barely in the realm of possibility at this point. Quantum computing perhaps. But even then steps can be taken to ensure the coins are still difficult to mine.

I’ve made a fair amount of money trading crypto at this point but it wasn’t easy and I know people who have lost (mostly amateur miners). It’s very volatile at the moment but over time things will settle down.