Sometimes I wonder if it is the cryptos that are appreciating, or if in reality it is the fiat currencies that are always depreciating. Great post.
Sometimes I wonder if it is the cryptos that are appreciating, or if in reality it is the fiat currencies that are always depreciating. Great post.
It's a little of both and other things? Have you seen the upside down pyramid image at demonocracy.info? Basically, smart money is getting out of fiat currencies. They see what is about to happen. It's only the beginning though. As this bubble bursts, there will be a mad rush from fiat into something else. Crypto will be one of those other things. Precious metals, land, and other hard assets will be others. Crypto prices are also rising as new fiat is given up to buy them. Sellers need buyers. This is true for Steem too. I still think people should have their day to day survival taken care of before they speculate in any possible investment.
Unless they government has its own Crypto ready to go.
They will not lose their control over currency without a bloody fight. Governments, and the banks behind them, have unlimited processing power and free electricity too. They are certainly mining. Governments also control the payment systems, the fiat to crypto and back process, and the Internet. For that reason I do not recommend people put too much of their savings into crypto.
They might have free electricity but most of cryptocurrencies have been created so far because most Bitcoin that will ever be mined have been mine and thus far the vast majority of cryptocurrencies are bound to the price of Bitcoin. Also the other cryptocurrencies which make up the majority of the crypto market cap have also been mined or created.