Posted by: GeetMaiJawaafDiu? May 13, 2022
Could crypto be a scam?
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First of, here is an analogy for inference purpose : 
Number of US carmakers (20th century)                                -   3,000 
Number of US carmakers (today)                                           -          3 
Number of cryptocurrencies (today as per CoinMarketCap)  - 19,000+ 
Number of cryptocurrencies (today+10 years)                       -  ????? 
Number of US Dollar-issuer                                                   -          1

Unfettered inflation rising out of Fed behaving irresponsibly and the covid-quarantined populace, with a watch full of time on one hand and stimulus-checks in the other, formed a perfect storm for the projectile-like rise of the cryptos.
Though cryptos are not practical legal-tenders as of yet, they are still attractive for traders who have figured out effective trading-strategies (- more power to them). For other purveyors, top cryptos like Bitcoin, Ethereum etc. are the new store of value like traditional gold vis-a-vis devaluation-prone US dollar. But lately, cryptos have been mirroring the NASDAQ's performance which is a noteworthy let-down.

From the knowable knowns to the unknowable unknowns in mind, which option do you think will maintain yours and your counterparties' "TRUST" :
decentralized cryptos (crypto-currencies) that have bucked delisting so far
the US Dollar backed by the full faith and credit (along with its unchallenged, military or otherwise, might) of the US Government?

Last edited: 13-May-22 03:48 PM
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