| > Perhaps the tokens on the blockchain can't be tampered with but their real value is manipulated by small groups of people all the time One of the only reasons people focus on its exchange rate against the dollar is the dollar has disproportionately more adoption. As adoption of cryptocurrency increases, its volatility against other currencies will decrease > I really don't think that cryptocurrencies are saving us from speculative bubbles and poor investments People messing around with defi get-rich-quick schemes don't fundamentally affect my ability to buy a house. The FED keeping interest rates near zero, along with QE, does. It is driving up the prices of houses and other assets, which effectively punishes people who prefer to save as opposed to taking on debt. This is hard for some people to wrap their head around, but not everyone wants to take on loans to buy stuff. Contrived example: if a house sells for $300k with interest rates at 2.5%, but $600k with interest rates at 0.1%, I'm in a worse position in the latter situation if I want to pay cash for the house from my savings. We could have a whole separate discussion on the usefulness of debt financing, and ways to profit off investing money in assets that appreciate faster than debt interest rates.. another time. |