| >I can easily get on the hate train, and view cryptocurrency as a pointless waste of resources. What am I missing? To name a few problems they might solve: When the world went off the gold standard they changed how their currency functions. The thing is, forex basically kept them in balance with each other. So instead of a gold standard it became a forex standard. Countries still couldn't just print money, but they did. Countries like Denmark, Germany, Finland, UAE, and some others who didn't... their inflation is under control. The relative wealth of their people is going to be that much higher. Hungary is a great research point. https://tradingeconomics.com/hungary/central-bank-balance-sh... They did print money in 2009 and didnt pay it back, now they did it again in 2020. Comparatively it's not as bad as other countries but opps 7.9% https://tradingeconomics.com/hungary/inflation-cpi and who did this? https://en.wikipedia.org/wiki/Fidesz A right-wing party who opposes globalization and I believe is fiscally conservative. The polticians don't matter. The fundamentals of the currency matters post-gold standard. The politicians can and will1 print money but they cant get away with it for free. That's where crypto comes in. It's not unlike buying Picassos or Hypercars. You are actively hedging your money against the politicians ability to print money and abuses by the financial system. There's also a very obvious threat here. When countries can effectively no longer print money. Socialism dies again. Hence why communist countries effectively have crypto banned. China and Vietnam have explicit bans. Cuba and Best Korea don't have free access to the internet. |