Cryptocurrency
- Thread starter Playboi Carti
- Start date
Any currency is only as valuable as the credibility and support internationally as the issuer of that currency.
Therein lies the problem with cryptocurrency.
Therein lies the problem with cryptocurrency.
CBDCs are already happening in other countries and grooming for it is happening in the US. 20+ countries will begin piloting CBDC in 2023. So yeah, it was a great take whether intentional or not.
Because crypto is an asset you don't have to worry about a wash sale if you sell and buy it back within 30 days. Unlike stocks. So you can capture the loss and get right back in.
That said I assume more restrictive legislation is coming and I avoid doing things like that just so if I ever were audited I don't have anything that even looks at all like trying to avoid taxes. It's easy enough to sell one crypto and find another to buy.
I mean, he really nailed it on the internet, right? Great track record on tech. Sorry for the low hanging fruit, but this one will always be a real laugher.
"By 2005 or so it will become clear that the internet's impact on the economy will be no greater than the fax machine"
--Krugman
He also completely missed on inflation. He even wrote an article explaining his wrongness.
Krugman is a known partisan source for economic opinion who caters to readers who have zero knowledge of the matter and focuses on straw man attacks of political adversaries. He hasn't contributed anything meaningful to his field in years. Hell, his Nobel was for work done in the 1970s.
If you dig him, great. But the whole, well...Krugman thinks so doesn't hold a lot of water for me.
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This is wildly inaccurate and completely void of any understanding of the history of money. Why should a currency have an issuer?
That dude has almost no clue. Or he does, but his opinions align exactly with what those in power want to do.I must say, you certainly seem to have the crypto jargon down pat.
I guess if Krugman continues to pooh-pooh, I'm not eager to dive in, especially since I don't see the advantage over traditional currency.
Opinion | Why Petulant Oligarchs Rule Our World (Published 2022)
The cult of the genius entrepreneur has done a lot of damage.www.nytimes.com
Indeed, the cult of the genius entrepreneur has played a large role in the rolling debacle that is crypto. Sam Bankman-Fried of FTX wasn’t selling a real product nor, as far as anyone can tell, are those of his former competitors who haven’t yet gone bankrupt: After all this time, nobody has come up with significant real-world uses for cryptocurrency other than money-laundering. What Bankman-Fried was selling, instead, was an image, that of the mussy-haired, scruffily dressed visionary who grasps the future in a way normies can’t.
Lol keep the hope alive on a Ponzi scheme. How’s Miami working out with Bitcoin?
Why do I look in this thread? 90% of it turns out to be a peeing match.
A CBDC isn’t a ponzi scheme. Do research before making yourself look more foolish than is already apparent.
Ha! Interesting, didn't know the term. I'm not following the connection to crypto though.
As are most threads not named winter storm, smoker tips, gamethread, or whatcha reading
It's a totalitarian control scheme.
Seems overly simplistic and not a great tool for any kind of policy. Economics has too many factors for the curve to look like that.
Laffer Curve is a laugher. Farce. Scam. American people the victims. Tool used to sell the scam of Republican tax cuts.
Early money was precious metal. The metal held the value. We now have fiat currency. Issuer of fiat currency credibility becomes the largest factor in currency value.
FTX is worthless cryptocurrency. Issuer makes a difference.
