Comments by "Titanium Rain" (@ChucksSEADnDEAD) on "The Largest Crypto Crash Just Happened..." video.

  1. No "real" currency has inherent value.
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  2.  @sabersz  you get asked which asset paper money is tied to and your answer is "whatever you want". You have no idea what you're talking about.
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  3.  @sabersz  How am I coping? You were asked a fairly simple question and you instantly exposed yourself as someone who has no idea what he's talking about. I'm not worse off. You know nothing about me. I have zero dollars invested in crypto, but I got my attention invested on people talking big game embarrassing themselves. Let's try again. Which asset is the USD backed by?
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  4.  @raichuraichu7632  Ukraine on Fire was directed by Oliver Stone. Occasional guest on RT, friend of Hugo Chavez, personally interviewed Putin. Just saying.
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  5. That's missing the point. As much as one would hate a fiat currency, there has to be permeability between crypto and fiat to remain useful in the real world. Pegging a crypto to USD protects against volatility in the crypto sphere, but keeping a foot on the crypto world allows you to beat inflation. If you take your stablecoins and exchange them to an unpegged coin when you see issues with the dollar, you retain your savings while everyone else holding the pegged coin is going to get wiped out. A buoy can help you not drown at sea but if you hold on to it for too long you can still die from hypothermia.
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  6.  @sabersz  Physical cash has no greater value than the digital number.
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  7.  @rem9466  None. Same as fiat currency. The idea behind crypto is a decentralized currency. It's not about getting rich. Scams are coming to a head every single day. Scams have been around longer than most active currencies in the world right now. And will continue to exist even after an hypothetical future collapse. Crypto will not be killed by scams the same way that the dollar doesn't get killed by scams, even though every single day the Nigerian prince email or the tech support scam is carried out in USD.
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  8. The USD has even greater use in the black and grey markets.
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  9. An exchange would handle the withdrawl.
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  10. But hackers need crypto for randomware attacks.
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  11. How us it both a fraud and useful?
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  12.  @BiigiieCheeese  It doesn't require anything. You can get a crypto currency which is pegged. You can get crypto that isn't. You're taking the actions and choices of a few and applying it to the entire concept.
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  13. You don't need the Fed to peg a value to USD. In the Soviet Union because of their command economy they had issues figuring out market prices so they based their prices on foreign values. Essentially pegging values just from observation, without needing the permission of fireign markets. There's latin American and African countries that peg their own currencies to USD too.
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  14.  @Drbeattles  Mining is only a part of the reason GPU costs are up, plus proof of stake vs proof of work also changes the dynamic.
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  15.  @Drbeattles  This assumes higher supply. The basic economics still need things to happen for you to see a change.
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  16. That's an exercise in missing the point. First, there's been some hub hub about central banks issuing "real money" crypto. This might be inescapable. Second, having a stable token is not a replacement for the whole crypto sphere. It's a way to have middle ground.
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