I’m just speaking from the economics of your points here, but people DO NOT put their money in crypto because they think it’s safe. It’s simply not true by and large.
They certainly put it in precious metals and commodities that are not tied to any specific market or nation. That’s why Gold and Silver just had historic market performance, but there are no large market shifts towards crypto or speculative financial assets for anything other than a bet.
Before you start in with the “crypto isn’t speculation” stuff…it is. It has no inherent value, is not tied to real world goods or services, and has no political benefit. This is why institutions, including nation-states start wars over commodities, not crypto. If markets crash, a government can use its gold reserves to pay for things. If interest rates rise, they can use commodities as leverage to counteract negative impacts.
Crypto has absolutely no use except for people who want to collect crypto. If a World War breaks out, crypto will be useless. You can’t pay for grain to feed your people your Pokemon cards, and you can’t buy raw goods for your production sectors with crypto. It’s just not a thing.
I’m just speaking from the economics of your points here, but people DO NOT put their money in crypto because they think it’s safe. It’s simply not true by and large.
Well that makes sense because, as you might notice in my comment, people are currently putting their money in what they think is safe and they are NOT putting their money in crypto. BTC has gone DOWN. DOWN means more people were selling than buying. DOWN means they put money somewhere else, in the topic of this discussion that includes securities such as but not limited to Private Equity.
Crypto is useful as a currency not controlled by any singular nation. It is more easily tracked than any other currency as it has a permanent public multiple ledger system, which makes it harder to do crime with. BTC in particular has a higher adoption rate and therefor lower volatility, and many countries will either accept BTC at some stores or have infrastructure to exchange BTC with the local currency such as a kiosk or ATM. It is possible to store and transfer without need of a bank or a payment gateway built on ancient IBM secrets. It’s very useful.
USD is fake money. Yuan is fake money. Rubles are fake money. It’s all fake, none of it has any value except what we all decide it is worth.
I’m just speaking from the economics of your points here, but people DO NOT put their money in crypto because they think it’s safe. It’s simply not true by and large.
They certainly put it in precious metals and commodities that are not tied to any specific market or nation. That’s why Gold and Silver just had historic market performance, but there are no large market shifts towards crypto or speculative financial assets for anything other than a bet.
Before you start in with the “crypto isn’t speculation” stuff…it is. It has no inherent value, is not tied to real world goods or services, and has no political benefit. This is why institutions, including nation-states start wars over commodities, not crypto. If markets crash, a government can use its gold reserves to pay for things. If interest rates rise, they can use commodities as leverage to counteract negative impacts.
Crypto has absolutely no use except for people who want to collect crypto. If a World War breaks out, crypto will be useless. You can’t pay for grain to feed your people your Pokemon cards, and you can’t buy raw goods for your production sectors with crypto. It’s just not a thing.
Well that makes sense because, as you might notice in my comment, people are currently putting their money in what they think is safe and they are NOT putting their money in crypto. BTC has gone DOWN. DOWN means more people were selling than buying. DOWN means they put money somewhere else, in the topic of this discussion that includes securities such as but not limited to Private Equity.
Crypto is useful as a currency not controlled by any singular nation. It is more easily tracked than any other currency as it has a permanent public multiple ledger system, which makes it harder to do crime with. BTC in particular has a higher adoption rate and therefor lower volatility, and many countries will either accept BTC at some stores or have infrastructure to exchange BTC with the local currency such as a kiosk or ATM. It is possible to store and transfer without need of a bank or a payment gateway built on ancient IBM secrets. It’s very useful.
USD is fake money. Yuan is fake money. Rubles are fake money. It’s all fake, none of it has any value except what we all decide it is worth.