It still amazes me that some people believe their fiat is safe in the bank, never mind valuable. Do they even realise that most banks now have the green light to bail in if they mess up again? There are numerous examples across the would of banks taking their investors' (customers') money and hyperinflation when money became so worthless they moved it in barrows to buy a loaf of bread. SMH Nothing really has value unless we accept that is has value, which makes crypto no different to fiat, except that it isn't currently controlled by the government and banks. I'm still not sure that government won't try and take control of crypto if too many realise this.
Hmm, Vanguard and BlackRock seen to have fingers in every pie. I wonder who the humans are at the head of them. 🤔 I believe the wealthiest people on the planet are actually not named in rich lists.
They are already trying to take control of crypto, but if we are active, it won't be possible, as it will keep changing form outside of their abilities. Every corner they think they have trapped us, has holes in it.
I agree. Most of the wealth in the world is in the derivative market, which is 3x the size of all other value on the planet combined. Most of the derivative market is traded over the counter and as such, i tis unregulated. That makes the majority of the world's wealth also untaxable. Pretty interesting...
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So much wealth it's probably inincalculable by physical standards. If we didn't have the ability to keep it all in numbers on a computer, could anyone actually physically hold that kind of wealth?