Comments by "Rune of Svalbard" (@vladimirofsvalbard9477) on "James Jani" channel.

  1. It's a cute idea and quite creative if you ask me, especially the creation of Bitcoin. However, as much as I like the idea of a decentralized global currency; it poses the same problem that gold does. A gold standard in a global trade only favors the leaders in productivity. It's a game of monopoly. Eventually, when the most productive nation exports their products and imports 'your' nations gold. Then the importing nation has nothing left to bargain with, which inevitably leads to resource expansion; aka 'war'. Although, you could make the assumption that (unlike a gold-standard) BTC cannot be controlled by the government. So nations that failed in productivity/exports would attempt to engineer new currencies by force. However, if BTC is still more favorable overseas, then it could stifle such ambitions. BTC is also extremely 'energy' expensive to mine and transact. It surely doesn't have VISA beat by a long shot. Ultimately, in order for BTC to work, you would need a globalized economy and an incentive to absorb BTC energy costs.
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  2. So it ISN'T a scam as long as some 2% of investors make off with millions? Some 98% of crypto investors are in negative territory. Crypto has very low utility and almost nobody actually uses it for that purpose. You'll play the game for a while and realize how you're being screwing eventually. It's really no different than being involved in an MLM scam. I pity you :(
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  3. Assuming that you have equity in it? You're forgetting natural bell curves; BTC has value because almost all of it's market cap is held by a handful of people and businesses. BTC is much worse than the gold-standard. It may be decentralized, but devil is that it will suck up all equity in a small oligarchy while everyone else gets poorer. I was in your position years ago, but once you have a family. You realize that these unregulated business models are a threat to your very survival. Let them run the show and the inequalities will get much worse.
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  4. Would you rather go back to the gold-standard? Then when we run out of gold we go to war over resources? It's been 16 years since the greatest financial scam in modern history. Yet people will still point at private industry as benevolent, while they condemn anything that has the word government attached to it.
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  5. Not exactly, some 95% of all people trading crypto have net NEGATIVE position. It's literally a zero sum game; that's the point. Massive inequalities due to basic bell curves in action; this is why government and central banking is set up the way it is. If people get rid of all government and regulation; everything will end up in a few small hands of people that don't deserve it.
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  6. Cryptos that offer APY dividends 'ARE' a ponzi scheme. The only way they can give you 8% APY is by using money from new investors.
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  7.  @shoazdon7000  Exactly! That's the problem, BTC only has value because a handful of businesses and individuals own 80% of all the coins.
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  8. That's the whole point, these legal ponzi schemes always deprive unsuspecting people of wealth.
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  9. Yes, but you can't base money on crypto or gold for obvious reasons. People speculate on it as an investment, plus if competing nations outproduce you; you exchange all your gold for product. Then countries become imperialistic for resources. That's ultimately why it was ditched. Fiat (while flawed) is the best currency invention.
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  10. BTC is one of tens of thousands of crypto currencies. In the end, scam or not; all the currency ends up in the hands of a handful of investors that give it complete control of the price. Wealthy people stay wealthy and the rest rest impoverished thinking that they will build wealth.
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  11.  @HubertWillow3  Probably lol
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  12. Not really, BTC may be up, but the inequalities are insane. The only people making money are multi-billionaires that prop up the currency.
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  13. Assuming that you'll end up with any of that crypto? I think you should look at the inequalities in crypto. It literally impoverishes anybody that isn't in the top 10%.
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  14. Yep, and when the liquidity crisis gets worse, what do you think people will resort to? It won't be crypto, it will be cash. The ONLY reason that crypto hasn't entirely liquidated in the current political environment is because a small bunch of billionaires own some 90% of all the crypto tokens and coins.
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