Comments by "Austin Kole Carlisle" (@AustinKoleCarlisle) on "FTX investor: This is a 'big lesson' for crypto community" video.

Crypto was always about testing the waters for people being comfortable with a central bank digital currency and to distract them from precious metals, it was never about financial independence.
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@jessepartridge5613 there is a finite amount of precious metals that can be mined from the Earth's crust. on the other hand, there is an unlimited amount of currency that can be created in the form of Bitcoin, litecoin, ethereum, etc, despite all of them claiming to have "built-in deflation", none of that matters when another cryptocurrency can always be created to fill the demand for more currency. this speculative mania is symptomatic of our diseased monetary policy where there is too much money floating around and people are punished for simply saving. but that doesn't mean crypto is the solution, it means we need to return to a sound monetary policy where people do not lose "5%" of their wealth through inflation every year.
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@333vang4 i wont deny that, either. but a fool and his money are easily parted. anyone remember NFTs? LOL, talk about a symptom of an ill monetary policy where there is too much easy money floating around and people overspeculate on the stupidest stuff.
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@ChineseGlobalism the problem with that reasoning is that there isn't a finite amount of crypto systems that can be created, despite each one touting a "finite" supply. price of precious metals is irrelevant...just like how we don't have a price of clean air....but it sure is nice to breath, and the more clean air for all of us to breath the better off we all are. when it comes down to it, only the addition of more goods and services increases our standard of living. creating more currency--yes that includes crypto--does not increase standard of living.
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@ChineseGlobalism no, the addition of more tangible assets like gold and silver into our lives would improve our standard of living tremendously. on the other hand, the addition of more fiat/crypto would NOT increase our standard of living.
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