Crypto is a scam devised by the ultra-rich. It relies on new suckers to keep it going. I have a friend that is worth millions in Bitcoin. He has profited from it too. But tell me something, if everybody that "owns" it wants to "cash" it in at the same time, what will its "value" be? Zero. So, show me your crypto, but not on a screen. Bet you can't.
How do you know that everyone wants to cash it in?
And how come some cryptos, such as Monero, have been actively targeted by governments and elite institutions to make them as difficult as possible to use? If it were a scam devised by the ultra-rich, surely they'd be pushing to make as many people as possible use it?
I'm not convinced they will. I've seen cryptos where this certainly hasn't been the case - Bitcoin Cash being a prime example. Many people sold out following its split from Bitcoin Core and the price plummeted. But many of those who bought it wanted to keep it because they saw the potential of the technology. In terms of infrastructure and technical support, BCH is now in a far stronger position than it was when the price relative to other currencies went down. People want to use it, like with Monero, and want to use as a means of exchange, irrespective of what the "value" is relative to dollars, pounds, gold etc. Can the same be said of hyper-inflated fiat currencies in countries like Argentina, Venezuela, Zimbabwe etc?
Fun read bro! Don't expect it to go unanswered though ;)
Crypto is a scam devised by the ultra-rich. It relies on new suckers to keep it going. I have a friend that is worth millions in Bitcoin. He has profited from it too. But tell me something, if everybody that "owns" it wants to "cash" it in at the same time, what will its "value" be? Zero. So, show me your crypto, but not on a screen. Bet you can't.
How do you know that everyone wants to cash it in?
And how come some cryptos, such as Monero, have been actively targeted by governments and elite institutions to make them as difficult as possible to use? If it were a scam devised by the ultra-rich, surely they'd be pushing to make as many people as possible use it?
If it sinks like a rock, everyone will want out.......... and poof it's gone!
I'm not convinced they will. I've seen cryptos where this certainly hasn't been the case - Bitcoin Cash being a prime example. Many people sold out following its split from Bitcoin Core and the price plummeted. But many of those who bought it wanted to keep it because they saw the potential of the technology. In terms of infrastructure and technical support, BCH is now in a far stronger position than it was when the price relative to other currencies went down. People want to use it, like with Monero, and want to use as a means of exchange, irrespective of what the "value" is relative to dollars, pounds, gold etc. Can the same be said of hyper-inflated fiat currencies in countries like Argentina, Venezuela, Zimbabwe etc?