Message:

<p>[QUOTE=&quot;masterswimmer, post: 26223315, member: 102022&quot;]It is impossible for me to agree with this more than I do. I&#039;ve been calling cryptocurrency a ponzi scheme since day one. And I&#039;ve been following Bitcoin since it was $95/coin.</p><p><br /></p><p>Here is where the problem lies. The US dollar, as a fiat currency, is no less a ponzi scheme than crypto is. Once backed by gold and silver, to eventually have that stripped away, to only be backed by a promise. And now that promise is over $36,000,000,000,000 in debt.</p><p><br /></p><p>See where I&#039;m going with this? I have never, nor will I ever, own crypto. Obviously I &#039;collect&#039; devaluing dollars. Every day I wake up, like my coin collection, my dollar collection is worth less than it was yesterday.</p><p><br /></p><p>So what do we do? We can accumulate gold, but as much value as that holds it&#039;s still not used in commerce. So we&#039;re forced into the fiat ponzi scheme by default. If the government decides to pass legislation stating the new fiat ponzi scheme is crypto and it&#039;ll be backed by the same worthless promise as the dollar, how or why would we fight that? The only advantage to the US banking system to switch fiats would be the expense saving of physically printing dollar bills. The new expense would be the massive amounts of energy it would require to run the banks of computers to generate the new blockchain.</p><p><br /></p><p>Will we be forced into using crypto in the future? That is the million dollar question, and above my pay grade.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in