| > Instead you have hyperdeflation. Wonderful. How and where? At worst, it's gradual and predictable. Where is the central planning of the bitcoin supply? Hyperinflation on the other hand is as a direct result of the control of a few in the matters of an economy. Not the same. > Let's be honest: you don't have access or any control over the underlying crypto asset either. 0.00002% is really 0%. I don't know how to response to this 0.00002% != 0% just like $20k != $0. There is nothing wrong with saving. Whether it's speculating or not is a completely different matter. Let's not pretend no other assets are speculated on especially given the degree of novelty. You are ranting about derivatives being bad, which I agree with. I'm giving you an option that decreases the effect and increases the options for opting out of derivatives. One of the reason derivates and bubbles are so strong is precisely because of inflation and central planned economy. Meme stocks sparked primarily as a result of short time preference and centrally planned economy. > Again, wrong. Banks are required to hold a portion of their assets and loans in hard currency. This is the fractional reserve system. Here's your "fractional reserve system": > As announced on March 15, 2020, the Board reduced reserve requirement ratios to zero percent effective March 26, 2020. This action eliminated reserve requirements for all depository institutions. [0] > backed by [insert government here].
> custodian that is overseen by the government. I'm sure the banks and governments are very friendly and wouldn't ever have incentives that are to the detriment of others. [0] https://www.federalreserve.gov/monetarypolicy/reservereq.htm.... |