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Bail-In and crypto currency confidence (Main Board)

by Pepe the Programmer @, Süm Fäggöt and Disloyal Actual Retard, Sunday, July 26, 2020, 13:53 (17 days ago) @ ,ndo
edited by Pepe the Programmer, Sunday, July 26, 2020, 13:57

I've completely avoided crypto currency. I don't hold any, I don't have a BTC wallet, etc.

But crypto money is (supposedly) beyond the reach of the government. (I suppose the government can intervene in conversion to and from USD or other real money.)

Crypto may actually be a good way to hold monetary value outside the banking system.

The one think that holds crypto currency back is confidence in it as a store of value. It's basically money invented by a programmer.

If the dollar massively inflated or there were bail-ins, crypto could explode in value. Bail-ins occurring would be one way that crypto appears more tangible and reliable and trustworthy than the dollar.

Aside from precious metals. Which have their own issues (storage and transfer expense, etc)

BTC might not be bad to put a couple of thousand in as a rainy day fund. We are likely to have a lot of rainy days.

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I vill trransmit this information to Vladimir.


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