Comments by "Be N S O N" (@Colddirector) on "James Jani" channel.

  1.  @kiblams  Absolutely, stock prices are highly irrational but for the most part they are tied to companies that actually produce goods and services. The point is that crypto doesn't actually solve anything wrong with the current financial system. It really is just a worse version of it that new money can get in on the ground floor of.
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  2. The main difference is that most companies actually produce products and services that people actually want, when the only reason 99% of people want crypto is specifically to make money off trading it.
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  3. That's fair, the stock market is problematic, however at least there (most) companies provide products and services people actually want. Crypto on the other hand has very little use outside of being a speculative vehicle.
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  4.  @ibrahimghadie6412  That you seemingly only care about crypto as a speculative vehicle is exactly the point.
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  5.  @ibrahimghadie6412  If your only argument for buying crypto is to get it at a cheaper price to sell on later, that’s not exactly an argument for cryptos viability as a replacement to fiat.
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  6. Basically just currency that isn’t backed by any commodity, the US for example used to be backed directly by gold. The upside is that it scales much better than a currency tied to a tangible good but the downside is that malevolent or incompetent governments can and have cause runaway inflation by just printing currency. The system definitely has problems but crypto addresses none of those problems in a meaningful way.
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  7.  @Ryan-wx1bi  What use is that if most bitcoin is traded on central exchanges anyway? Not to mention POW fundamentally places minting power in those who can afford the most hardware.
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  8.  @Ryan-wx1bi  Are those decentralized exchanges actually widely adopted though? You can mine Bitcoin from your computer sure, but fat chance mining enough to even be worth the cost of electricity without some serious industrial hardware, and would you like to guess who can afford industrial hardware?
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  9. I'd rather have neither be the standard.
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  10. good luck turning btc into real money without suckers buying in.
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