Didn’t see him writing this when it was soaring high a few months back. Just kicking it while it’s down now!
[deleted]
NFT’s are the real scam
Same as any commodity,it may go up or down.
Great for hiding the returns from my criminal empire though.
You’ll be proven wrong McWilliams.
to be fair, inflationary [fiat currency](https://en.wikipedia.org/wiki/Fiat_money) isn’t really real money either, it’s just a big fraud scheme with backing of a state’s monopoly on force.
[Money is a Sign of Poverty](http://www.vavatch.co.uk/books/banks/cultnote.htm) anyway. I’m still happy for cryptocurrency to undermine the financial system – but I don’t view it really as a very good solution to anything beyond crashing an also-bad existing system, in fact it’s environmentally disgusting. It’s sad that earth communists get so mired in the idiotic labor theory of value fallacy and authoritarianism.
Once they become regulated they’ll become more stable and less speculative. People are attempting to make money from them now because it’s like the wild west. The uptake by institutions this year means regulation is basically inevitable.
There’s a reason numerous countries are looking to make their own cryptos.
Can wait for him to be eating his words
I really hope crypto just fucks off
I can spend my crypto just as easily as i can spend the digital money in my bank account.
I’m happy for people who can make money out of these things. Personally I don’t understand them and will be staying well away from them.
[deleted]
The problem is that Bitcoin is one of the major threats to governments and the financial establishment, so it’s negative coverage in the media is no surprise. A currency not owned by any country or institution and that cannot be confiscated or tracked has the potential to change society in unimaginable ways.
Not financial advice, but anyone who buys Bitcoin today will be richer in 5 years. Even if it’s only €100, it realistically can go to €500 in that time frame.
Crypto is the future
Crypto has been a huge game changer for me and my wife.
The tech behind it is the future the current implementation is not.
CBs need control of currency to tackle inflation and the like.
My forecast is a govt issued crypto will be the future as to better avail of Blockchain ledger tech to verify transaction with low transaction costs
r/cryptocurrency for anyone who wants to pick up a new hobby reading about it all
Down with this sort of thing
It’s the greed driving “value” up of crypto and these “financial products” invented out of thin air with no intrinsic value. Currencies that currently have no use in world being traded as assets? This is digital Tulip mania and history repeating itself.
A lot of people will get burned.
David McWilliams was one of the great brains behind the Bank Guarantee, nice one Davey.
Crypto currencies are about fighting back against global money which concentrates wealth into a tiny pool of investors with hard assets with a system which instead concentrates money into a much smaller pool of early adopters.
Paper money shouldn’t be worth what it’s worth either but we’ve decided to give it a value and the system works as long as people believe it has. Bitcoin etc will continue to have a value as long as people give it a value and that doesn’t look like changing anytime soon.
!RemindMe 5 years
Bitcoin will be at €250K at least in 5 years.
Paywalled.
‘Not backed by anything blah blah blah’.
If you tried to explain the concept of private property to pre agricultural societies they would have laughed at you. How can you own the land they would say?
And yet here we are with private property, with marriage, with mono theistic religion, with company law, with nation states, with government, with money, ALL of which are common delusions we create which are backed by nothing except shared fictions.
How can people not see that the future is clearly a decentralized, mathematically governed, digitally scarce, cryptographically secure monetary network.
This is so so clearly the future in my mind, I cannot understand why more people don’t see this. We will look back and laugh our heads off at fiat in 100 years.
Our grandkids will hear stories about government making up and debasing the supply of the money and be mind boggled at how backward we were.
And yet ‘but it’s backed by nothing whiney whine whine’… begone Fred Flintstone! back to the cave with you.
27 comments
Here we go…. Enter ponzi comments.
Didn’t see him writing this when it was soaring high a few months back. Just kicking it while it’s down now!
[deleted]
NFT’s are the real scam
Same as any commodity,it may go up or down.
Great for hiding the returns from my criminal empire though.
You’ll be proven wrong McWilliams.
to be fair, inflationary [fiat currency](https://en.wikipedia.org/wiki/Fiat_money) isn’t really real money either, it’s just a big fraud scheme with backing of a state’s monopoly on force.
[Money is a Sign of Poverty](http://www.vavatch.co.uk/books/banks/cultnote.htm) anyway. I’m still happy for cryptocurrency to undermine the financial system – but I don’t view it really as a very good solution to anything beyond crashing an also-bad existing system, in fact it’s environmentally disgusting. It’s sad that earth communists get so mired in the idiotic labor theory of value fallacy and authoritarianism.
Once they become regulated they’ll become more stable and less speculative. People are attempting to make money from them now because it’s like the wild west. The uptake by institutions this year means regulation is basically inevitable.
There’s a reason numerous countries are looking to make their own cryptos.
Can wait for him to be eating his words
I really hope crypto just fucks off
I can spend my crypto just as easily as i can spend the digital money in my bank account.
I’m happy for people who can make money out of these things. Personally I don’t understand them and will be staying well away from them.
[deleted]
The problem is that Bitcoin is one of the major threats to governments and the financial establishment, so it’s negative coverage in the media is no surprise. A currency not owned by any country or institution and that cannot be confiscated or tracked has the potential to change society in unimaginable ways.
Not financial advice, but anyone who buys Bitcoin today will be richer in 5 years. Even if it’s only €100, it realistically can go to €500 in that time frame.
Crypto is the future
Crypto has been a huge game changer for me and my wife.
The tech behind it is the future the current implementation is not.
CBs need control of currency to tackle inflation and the like.
My forecast is a govt issued crypto will be the future as to better avail of Blockchain ledger tech to verify transaction with low transaction costs
r/cryptocurrency for anyone who wants to pick up a new hobby reading about it all
Down with this sort of thing
It’s the greed driving “value” up of crypto and these “financial products” invented out of thin air with no intrinsic value. Currencies that currently have no use in world being traded as assets? This is digital Tulip mania and history repeating itself.
A lot of people will get burned.
David McWilliams was one of the great brains behind the Bank Guarantee, nice one Davey.
Crypto currencies are about fighting back against global money which concentrates wealth into a tiny pool of investors with hard assets with a system which instead concentrates money into a much smaller pool of early adopters.
Paper money shouldn’t be worth what it’s worth either but we’ve decided to give it a value and the system works as long as people believe it has. Bitcoin etc will continue to have a value as long as people give it a value and that doesn’t look like changing anytime soon.
!RemindMe 5 years
Bitcoin will be at €250K at least in 5 years.
Paywalled.
‘Not backed by anything blah blah blah’.
If you tried to explain the concept of private property to pre agricultural societies they would have laughed at you. How can you own the land they would say?
And yet here we are with private property, with marriage, with mono theistic religion, with company law, with nation states, with government, with money, ALL of which are common delusions we create which are backed by nothing except shared fictions.
How can people not see that the future is clearly a decentralized, mathematically governed, digitally scarce, cryptographically secure monetary network.
This is so so clearly the future in my mind, I cannot understand why more people don’t see this. We will look back and laugh our heads off at fiat in 100 years.
Our grandkids will hear stories about government making up and debasing the supply of the money and be mind boggled at how backward we were.
And yet ‘but it’s backed by nothing whiney whine whine’… begone Fred Flintstone! back to the cave with you.