Comments by "XSportSeeker" (@XSpImmaLion) on "How Bitcoin Became El Salvador's Currency" video.

  1. I don't even wanna see when this all goes tits up, it's gonna be ugly. Here's something people don't seem to get - as replacement of currency for a relatively poor economy, this is playing dice with the devil. Not because it's a crypto currency, not because people don't quite get it, not because it skips the banking system and all those things that are relevant to the discussion but not the core of it here. It's plain because of volatility. And yes, people can throw all arguments against fiat currency, the current system based on banks, how the stock market is just the same, etc etc. But step down a bit and just think. Yes, we have bubbles, crashes, instability and whatnot in current systems, but it's nowhere near as bad as what bitcoin already went through and realistically will go through for the foreseeable future. And adopting it as a national currency is one nightmare experiment I don't wanna see the results of, particularly if it goes very very bad. If you have money to spare and put into bitcoin as an investment, I mean, fuck it, you win some you lose some. High risk high returns. But if you are poor and only get enough money to pay the bills and put food on the table, one bad day, one bad tweet from Musk, one decision from a foreign government, one more trader taken down or scamming people, and that's people who will have their lives absolutely fucked with no recourse. I think people are being fooled on this, and when they realize the trouble they got into, things will get very ugly. But hey, perhaps it's the pessimist in me. It's just that no matter how corrupt banks are, how unstable markets can be, and how crashes and crisis always seems to happen... it's not like crypto had no problems. They just lie elsewhere. And cold analysis, sorry, but crypto is nowhere as stable as most other options, even more if the currency used is USD. And half the advantages being talked about there have nothing to do with crypto, you could get the same advantages with a digital payment system, electronic currency and whatnot. Perhaps a country with hyperinflation where it just doesn't make sense to print money anymore, but betting with something like that? I imagine some people are getting lots of bitcoins to use citizens' stability and livelihoods as casino chips like that.
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