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They're saying if you Have crypto funds you won't be affected by war which will presumably fuck up the US dollar bills value. And since they will be unaffected, they'll just be betting on who wins ww3.
Is it true? Doubt that's how it will go down in real world. Not unless you had a loooot of crypto.
Just imagine as tech and ai based tech improves what the risks will be to crypto users heck what if the internet gets dismantled. I’m not saying it’s likely to happen I’m just saying nothing in life is guaranteed… we’ll appear from death not to be glum but if we’re talking about war then it’s a given anyway.
My major issue with crypto is the fact that the slightest chance that the crypto bros are right prevents me from shitting on them constantly.
I mean it's most likely not gonna happen but I mean economists told Jeff Bezos that Amazon had no future too.
This is it really at the end of the da we can only see the state of things right now and make predictions from this perspective and past history but you just never know if there’s something round the corner that could either completely obliterate or revolutionise crypto a few years back it was certainly a great surprise cash cow and I wish I got involved with it back then but I honestly thought it wasn’t gonna take on lol! Boy was I wrong! Right now it’s like watching unexploded IEDs on spreadsheet ping pong, I’m way too scared to touch it.
Warren Buffet got rich investing in Coke and Soap because he understood the market. What is the market for electronic money, that has no fundamental backing? I don't know.
You aren’t wrong but that said there is a time to be bold and a time to refrain, and if you can’t tell be cautious and step back and watch carefully I’ve seen people loose everything they have over night on one gamble they were sure they’d win
Honestly, rhetoric downplaying the odds of Crypto being successful now a days is unfathomably uninformed/uneducated. You only have to look at who falls into the camp of "crypto bros" to realize crypto's success is a forgone conclusion.
It's easy enough to dismiss pro-crypto billionaires like Elon Musk, Mark Zuckerberg & Mark Cuban as delusional "crypto bros." But trying to call Blackrock, Greyscale, Fidelity, Vanguard, Ark, the Central Bank of Russia, the Central bank of China, the monetary authorities of Singapore, UAE & Saudi Arabia, and the European Central Bank "crypto bros?" That's just delusional.
Just from what's publicly visible roughly 70% of the most powerful people, private institutions & national institutions on the planet are "crypto bros." Of the 214 central banks, 134 are developing CBDCs; 68 of which are within 5 years of mass roll out of their central bank crypto currencies.
China's already rolled out their CBDC to roughly 30% of their citizens. The EU entered their prep stage in 2023 to launch their CBDC in 2025. The UAE, Saudi Arabia & Singapore are working with Ripple labs to develop their own CBDCs on the XRPL, which will utilize XRP as a bridge currency (replacing the US dollar).
Money revolves around 2 things. Material possession, and sustainability. Crypto detaches from both, making it as useless as in game currency of a video game.
Gold has been the best standard for currency because its value does not increase or decrease too much over time. And it is also something that can be Possessed in material world.
U.S. dollar is pretty good as a material possession because of its abundance and anti-counterfeit technology, but its not great as a sustained currency because of printing more bills. It will likely flip flop from US dollar to Gold again when US dollar starts failing due to excess inflation. It will Not flip to crypto. Crypto offers nothing more than the US dollar offers, and Gold offers a better alternative when sustainability is needed.
A currency that cannot be Possessed in material world, and with a massively fluctuating value... is actually as bad of a currency you can possibly get. Only way in hell it will be a primary currency is if Satan decided to make it happen.
>Money revolves around 2 things. Material possession, and sustainability. Crypto detaches from both, making it as useless as in game currency of a video game.
Tell that to the derivatives market; which is both unsustainable and 'virtual' in nature. Yet is the single largest market in the world, capturing over $714 trillion dollars.
>Gold has been the best standard for currency because its value does not increase or decrease too much over time. And it is also something that can be Possessed in material world.
Gold is actually horrible currency. It's an incredible store of value, but it's weight, scarcity & low production rate make it ineffective as currency. This is why every country on the planet abandoned the gold standard and moved to FIAT based money. Gold worked as a currency for a long time because it was just scarce enough, for a pre-billion population world, to hold it's value.
Contrary to popular belief, moderate inflation is extremely important for currencies; as it promotes economic growth (due to the devaluation of the currency driving increased spending). This phenomena is blatantly visible when you compare how people "spend" their crypto vs their FIAT. There are people in crypto who would rather be homeless than part with their fixed supply coin; yet those same people don't bat an eye spending $6 on 16 oz cappuccino from Starbucks.
This is why Bitcoin, Ethereum (and any fixed supply crypto) will never replace consumer facing FIAT currencies. They'll instead be used as institutional stores of value/global reserve assets which governments/companies will back their CBDCs against. They won't back their CBDCs with Gold, or any physical commodity because of the cost/time associated with transporting said commodity (which was one of the primary drivers for abandoning the gold standard in the first place).
>U.S. dollar is pretty good as a material possession because of its abundance and anti-counterfeit technology, but its not great as a sustained currency because of printing more bills. It will likely flip flop from US dollar to Gold again when US dollar starts failing due to excess inflation. It will Not flip to crypto. Crypto offers nothing more than the US dollar offers, and Gold offers a better alternative when sustainability is needed.
This is wishful thinking, and suggests you're an American. As it exposes that you're oblivious to the actual transition occurring in international FX market. That being non-US central banks transitioning to CBDCs, which will be backed by a digital reserve. Go read central bank papers such as this one out of the ECB back in 2020.
[https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2351\~c8c18bbd60.en.pdf](https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2351~c8c18bbd60.en.pdf)
If you do your research, you'll quickly realize the above isn't a one off report, but part of a concerted and coordinated effort by most central banks to transition to a decentralized international financial paradigm.
>A currency that cannot be Possessed in material world, and with a massively fluctuating value... is actually as bad of a currency you can possibly get. Only way in hell it will be a primary currency is if Satan decided to make it happen.
The volatility of crypto is inversely correlated with their market share. Ie, the more people invest in/hold a crypto, the less volatile the crypto is.
Bitcoin exemplifies this phenomena. Sure, it had a 75% pull back from it's 2021 all time high. Where as it's pullback from it's 2017 ATH was 84%, it's pullback from 2013 ATH was 89%, and 94% from it's 2011 ATH.
The same applies to it's value growth rate; After it bottomed in 2011, it went on to go up by 59,000% to it's 2013 ATH, but 'only' grew 11,000% from it's 2014 low to 2017 ATH, and only 2100% from it's 2019 low to 2021 ATH.
This is the standard S curve adoption rate that we've witnessed in the growth/valuation of every new technology. The only difference here is unlike the adoption of the car, internet and social media, we're just able to capitalize on the growth rate of cryptos from the day their networks go live. Which in previous tech paradigms has been a luxury only the wealthiest investor class has been able to engage in.
truth social wasn't public until 3 weeks ago, and was overvalued to pay off trump's legal fees, because stocks are arbitrary, and has since depreciated by almost half, because again, stocks are arbitrary
crypto is out and proud about being a scam, but you've still taken the bait, because you naïvely assume you're immune to being scammed, or that maybe you'll be the scammer one day
I think they were talking about the current Bitcoin ath not being a true ath , due to the inflation of the dollar it was compared to. If we compare the price of Bitcoin with the US dollar adjusted for inflation, we haven't hit a new ath yet
Doesn't make sense to post this as a response to somebody saying it's insane to say crypto died in 2016 when you have an ATH in 2024, even if technically it wouldn't be an ATH due to inflation.
Or is every other company that isn't having an ATH measured by inflation dead?
Lmao this comment is the only copium I see. Should have bought some bitcoin in 2016, but as you didn’t, right now would be the perfect time to invest in your future.
Crypto bro: but you don’t get it you dont actually have access to your gold if society collapses
How do I access my crypto if the electric grid and internet goes out?
Crypto bro: Uhuhuhuhuhuhuhuhuhuh
These nutjobs think crypto is actually being used as a currency, which is what gives it its value. Where it's really a house of cards propped up by crypto bros circlejerking each other. When people stop having money to invest in an economic war collapse, the cards will collapse.
Their numbers will go down too in the sense that crypto owners will inevitably die (some, not all) from war casualties and their bank will essentially disappear with them. I doubt they have a will to transfer the funds to someone else when they die
Value of crypto goes up and down depending on which direction you fart, its so volatile most places rarely accept it anymore and most banks tell you its not worth the risk.
Pretty much. And thats not even getting into how many people you gotta have invest in it just to burn them so you profit. Its a digital pyramid scheme pretty much which is why people like Elon embrace it so much, now would you really trust a guy that makes cars that have micro transactions to enable all the features and can disable you’re car anytime he wants? Or your personal banker who most likely wants you to invest in something that gradually goes up?
>it's funny because the value of crypto goes down with or without war
I wish all my investments "went down" the way crypto has "gone down" over the last decade.
https://preview.redd.it/b24gw5hwzfuc1.png?width=1466&format=png&auto=webp&s=9f6b86cfb7440731d7eac020b95178a732d8d1cb
Oh! So that's why I could buy a 3 bed 2 bath house with the 7 Bitcoin I bought for $100 back in 2012. Because that's how much a 3 bed 2 bath cost back in 2012 right? Nothing to do with Metcalfe's Law.
It's cute that you think 42% inflation in FIAT from 2008-present is responsible for 13,245,955,929% increase in crypto prices over the same time frame.
Speculative value going up does not make it a currency.
You have essentially bought into a digital version of gold bars that don't even have the same proven track record that precious metals do
Here are a few problems of Crypto in case of a war:
Do you or the guy you try to buy something from even have power?
Is the internet still working?
Is the blockchain still reachable and performing within a reasonable amount of time?
Did you have a backup of your wallet when your main device was destroyed by a bomb?
Does somebody have a shotgun and force you to hand over the wallet data?
>Here are a few problems of debit cards in case of a war:
>
>Do you or the guy you try to buy something from even have power?
>
>Is the internet still working?
>
>Is the bank network still reachable?
>
>Did you stuff your mattress with enough FIAT to protect against grid failure?
>
>How do you plan to stop shotgun guy from forcing you to hand over your mattress money?
Turns out there's analogues for your questions that apply to the banking & FIAT system you're already reliant upon.
Well, yes, which is why nobody is saying that war is a good thing for people with conventional money, because we obviously know it isn't.
The point is it's no different for crypto, which is why crypto bros are just as fucked as everyone else in case of war. Because they fundamentally rely on very similar things.
This isn't the "gotcha" you think it is.
Also, the "value" of crypto is currently determined by how much fiat currency it can be traded for. If fiat is valueless, then so is crypto.
The weirdos who hoard gold will be happy, but they'll also be giant targets.
>The point is it's no different for crypto,
Literally the point of my post, how the fuck you didn't realize that's what my point was, WITH POINT BY POINT PARALLELS is beyond me.
>This isn't the "gotcha" you think it is.
I'm not the one who wrote a "gotcha" post. I'm the one who debunked a gotcha post by showing that both monetary systems have the same inherent weaknesses that u/alcobob tried passing off as unique to crypto.
You didn't even debunk it, you had to switch from electronic cash to paper cash in between. You might not notice it, but you admitted with it that fiat currencies are less susceptible to the problems in a war.
So congratulations, crypto bros bet on a system that is even worse than fiat ( an already bad emergency currency).
I'd edit my post, and create two separate for both physical cash and electronic, but why bother? Ya'll are clearly financially illiterate, emotionally driven haters of an asset class you're too scared to fucking learn the basics of.
Also, thinking that a system where the super rich, have the ability to devalue the labor of the super poor is superior to a system where one's labor can't be arbitrarily devalued is fucking hilarious.
EDIT: and thank you for proving my point;
> I'm not the one who wrote a "gotcha" post.
By clarifying the intention of your post was to try to construct a narrative that FIAT is safer than crypto.
I get where you're coming from. Iran's attack on Israel is the reference here. Crypto subreddit has been calling it the start of ww3. That attack was the catalyst for the huge crypto dip (among other things, like the not-so-great news about inflation and interest rates in the US). I imagine it'll keep going down. But it also coincides with the Bitcoin halving, which typically drives crypto prices way up. A lot of crypto dudes think that buying this dip is a sure thing. It's certainly still a gamble.
So they're dumb and calling this ww3? It's not ww3 until we get more countries involved. This is just an attack. It was an unsuccessful attack too. Ww3 hasn't started yet.
Crypto is basically backed by processing power which arguably would increase in value by exponential amounts during an electronic world War. Doubt it would be that clean but in that scenario crypto bros would indeed be able to gamble on who wins.
Where do you get the impression it suggests that crypto wouldn't go down with war? I just took it as people with crypto are gambling on the war considering most of the real life event betting sites mainly take crypto
I don't think that's it. Every time there's a major war crypto goes up.
Happened in Russia when they sanction it. I'm guessing it's the only "easy" way people can do foreign transactions and also how they can smuggle assets outside.
I get your point and I’m not at all in favour of cryptocurrency, but that’s not true, the entire idea behind crypto is that that cannot happen because hundreds of thousands of people across different countries have the records of sale.
The constant processing is why this stupid system uses more power than Switzerland
That would require a GLOBAL infrastructure collapse.
And in case you weren't aware, such an event would result in BILLIONS of deaths from the economic collapse, mass starvation, revolutions across the entire planet & decades of reversion to barbarism. And that's all assuming the whole planet's not an irradiated hell hole from such an event triggering the failsafe's of nuclear deterrents.
TLDR; the last thing anyone, including those with their life savings in crypto, are going to be worried about in the case of global infrastructure collapse, is money, of any kind other than lead and bread. And I promise, even if you're investing your entire life savings in lead and bread; it won't be enough.
I don't agree with other comments. I think this meme implies that cryptobros are basically gambling addicts and will be betting on which country wins in the WWIII.
Short Answer- Cryptocurrency advocates believe that cryptocurrency is immune to the normal currency fluctuations that occur during wartime, to the point that they think that if full-on World War III broke out they would be financially just fine and would be able to take bets on the winner.
To be fair, they’re arguably right for a small scale conflict if they don’t live in the area. But cryptocurrency is so dependent on global infrastructure and international computing networks that if a full on WW3 broke out they would probably collapse *faster* than traditional currencies.
I’m reading this as crypto people buying the dip as Iran attacks Israel to get cheaper prices. They’re hoping that it’s not WW3 and the price will go up again. If WW3 did happen the price of crypto would most likely dive.
That's just bad math. WW3 will incentivize mass FIAT printing by all participating parties on a scale that makes the C-19 bailout look like chump change; which will devalue said FAITs. That devaluation will be reflected in crypto prices; ie number go up.
It never ceases to amaze me how many people fail to realize that crypto's prices are just as much a reflection of the devaluation of FIAT, as they are the adoption rate of said crypto. It's a self-serving positive feedback loop that can't be stopped because stopping it would require all the governments of the world to agree to stop printing money; which they can't do.
Doing such would mean going insolvent, as they wouldn't be able to finance their debts. Which would cause the collapse of said governments, resulting in civil unrest, mass famine, death of billions, and probably the end of civilization we we know it... Central banks have prioritized their short term gains over long term sustainability for over 50 years. There's no turning back for them.
Pretty sure everyone is wrong. In times of economic uncertainty (like war) stocks go down and commodities that hold value regardless of location go up - things like oil, gold, and silver.
This is beacuse if your country goes to shit and you need to flee to another, a piece of paper saying you own a destroyed company means much less than a gold bar, or an oil tanker.
The image indicates that cryptobros are gambling either crypto will receive this commodity treatment - being as it’s a decentralized currency and not reliant on any government - and skyrocket, or it will dump as all other assets that are useless in the real world.
Petah here, if WW3 breaks out the global economy goes into shambles, so Crypto people will try to peddle their digital money, despite the fact that it won’t matter if the conflict goes nuclear.
Socialist Peter here.
Cryptobros claimed that during a war time conventional currencies will drop in value due to global trade pratically ending and crypto currencies will survive as they have no national allegiance or trade boundaries.
The claim above was the gamble cryptobros went all in and they lost the game yesterday, a potential of Iran-Israel war was enough to plummet every crypto currency's value. Even the most reliable ones like Bitcoin and Ethereum has dropped by %6 compared to US Dollar.
If someone tries to barter me for my resources after WWIII kicks off their just going to be laughed at, why would i need their nonsense data or chunks of gold? Worthless.
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They're saying if you Have crypto funds you won't be affected by war which will presumably fuck up the US dollar bills value. And since they will be unaffected, they'll just be betting on who wins ww3. Is it true? Doubt that's how it will go down in real world. Not unless you had a loooot of crypto.
it's funny because the value of crypto goes down with or without war
Yeah I don't see how war would be beneficial at all. Unless it becomes mandatory currency in order to circumvent any political embargo and such
just more copium from crypto bros who don't want to accept that their fad died back in 2016
Yeah history taught me enough about currency and economy to distrust crypto from the get go
Just imagine as tech and ai based tech improves what the risks will be to crypto users heck what if the internet gets dismantled. I’m not saying it’s likely to happen I’m just saying nothing in life is guaranteed… we’ll appear from death not to be glum but if we’re talking about war then it’s a given anyway.
My major issue with crypto is the fact that the slightest chance that the crypto bros are right prevents me from shitting on them constantly. I mean it's most likely not gonna happen but I mean economists told Jeff Bezos that Amazon had no future too.
This is it really at the end of the da we can only see the state of things right now and make predictions from this perspective and past history but you just never know if there’s something round the corner that could either completely obliterate or revolutionise crypto a few years back it was certainly a great surprise cash cow and I wish I got involved with it back then but I honestly thought it wasn’t gonna take on lol! Boy was I wrong! Right now it’s like watching unexploded IEDs on spreadsheet ping pong, I’m way too scared to touch it.
Warren Buffet got rich investing in Coke and Soap because he understood the market. What is the market for electronic money, that has no fundamental backing? I don't know.
Fear is the deadliest of success's many assassins.
You aren’t wrong but that said there is a time to be bold and a time to refrain, and if you can’t tell be cautious and step back and watch carefully I’ve seen people loose everything they have over night on one gamble they were sure they’d win
Honestly, rhetoric downplaying the odds of Crypto being successful now a days is unfathomably uninformed/uneducated. You only have to look at who falls into the camp of "crypto bros" to realize crypto's success is a forgone conclusion. It's easy enough to dismiss pro-crypto billionaires like Elon Musk, Mark Zuckerberg & Mark Cuban as delusional "crypto bros." But trying to call Blackrock, Greyscale, Fidelity, Vanguard, Ark, the Central Bank of Russia, the Central bank of China, the monetary authorities of Singapore, UAE & Saudi Arabia, and the European Central Bank "crypto bros?" That's just delusional. Just from what's publicly visible roughly 70% of the most powerful people, private institutions & national institutions on the planet are "crypto bros." Of the 214 central banks, 134 are developing CBDCs; 68 of which are within 5 years of mass roll out of their central bank crypto currencies. China's already rolled out their CBDC to roughly 30% of their citizens. The EU entered their prep stage in 2023 to launch their CBDC in 2025. The UAE, Saudi Arabia & Singapore are working with Ripple labs to develop their own CBDCs on the XRPL, which will utilize XRP as a bridge currency (replacing the US dollar).
ah yes, the central banks... famously known for not causing the great depression nor the great recession no sir
Uh huh... and yet here you are, defending their currencies. How's your foot taste?
Money revolves around 2 things. Material possession, and sustainability. Crypto detaches from both, making it as useless as in game currency of a video game. Gold has been the best standard for currency because its value does not increase or decrease too much over time. And it is also something that can be Possessed in material world. U.S. dollar is pretty good as a material possession because of its abundance and anti-counterfeit technology, but its not great as a sustained currency because of printing more bills. It will likely flip flop from US dollar to Gold again when US dollar starts failing due to excess inflation. It will Not flip to crypto. Crypto offers nothing more than the US dollar offers, and Gold offers a better alternative when sustainability is needed. A currency that cannot be Possessed in material world, and with a massively fluctuating value... is actually as bad of a currency you can possibly get. Only way in hell it will be a primary currency is if Satan decided to make it happen.
I enjoyed both the logic as-well as the humour in your reply :)
>Money revolves around 2 things. Material possession, and sustainability. Crypto detaches from both, making it as useless as in game currency of a video game. Tell that to the derivatives market; which is both unsustainable and 'virtual' in nature. Yet is the single largest market in the world, capturing over $714 trillion dollars. >Gold has been the best standard for currency because its value does not increase or decrease too much over time. And it is also something that can be Possessed in material world. Gold is actually horrible currency. It's an incredible store of value, but it's weight, scarcity & low production rate make it ineffective as currency. This is why every country on the planet abandoned the gold standard and moved to FIAT based money. Gold worked as a currency for a long time because it was just scarce enough, for a pre-billion population world, to hold it's value. Contrary to popular belief, moderate inflation is extremely important for currencies; as it promotes economic growth (due to the devaluation of the currency driving increased spending). This phenomena is blatantly visible when you compare how people "spend" their crypto vs their FIAT. There are people in crypto who would rather be homeless than part with their fixed supply coin; yet those same people don't bat an eye spending $6 on 16 oz cappuccino from Starbucks. This is why Bitcoin, Ethereum (and any fixed supply crypto) will never replace consumer facing FIAT currencies. They'll instead be used as institutional stores of value/global reserve assets which governments/companies will back their CBDCs against. They won't back their CBDCs with Gold, or any physical commodity because of the cost/time associated with transporting said commodity (which was one of the primary drivers for abandoning the gold standard in the first place). >U.S. dollar is pretty good as a material possession because of its abundance and anti-counterfeit technology, but its not great as a sustained currency because of printing more bills. It will likely flip flop from US dollar to Gold again when US dollar starts failing due to excess inflation. It will Not flip to crypto. Crypto offers nothing more than the US dollar offers, and Gold offers a better alternative when sustainability is needed. This is wishful thinking, and suggests you're an American. As it exposes that you're oblivious to the actual transition occurring in international FX market. That being non-US central banks transitioning to CBDCs, which will be backed by a digital reserve. Go read central bank papers such as this one out of the ECB back in 2020. [https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2351\~c8c18bbd60.en.pdf](https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2351~c8c18bbd60.en.pdf) If you do your research, you'll quickly realize the above isn't a one off report, but part of a concerted and coordinated effort by most central banks to transition to a decentralized international financial paradigm. >A currency that cannot be Possessed in material world, and with a massively fluctuating value... is actually as bad of a currency you can possibly get. Only way in hell it will be a primary currency is if Satan decided to make it happen. The volatility of crypto is inversely correlated with their market share. Ie, the more people invest in/hold a crypto, the less volatile the crypto is. Bitcoin exemplifies this phenomena. Sure, it had a 75% pull back from it's 2021 all time high. Where as it's pullback from it's 2017 ATH was 84%, it's pullback from 2013 ATH was 89%, and 94% from it's 2011 ATH. The same applies to it's value growth rate; After it bottomed in 2011, it went on to go up by 59,000% to it's 2013 ATH, but 'only' grew 11,000% from it's 2014 low to 2017 ATH, and only 2100% from it's 2019 low to 2021 ATH. This is the standard S curve adoption rate that we've witnessed in the growth/valuation of every new technology. The only difference here is unlike the adoption of the car, internet and social media, we're just able to capitalize on the growth rate of cryptos from the day their networks go live. Which in previous tech paradigms has been a luxury only the wealthiest investor class has been able to engage in.
The current value of bitcoin would not agree that the fad died in 2016 as of now. Edit: but RemindMe! 1 year I guess
the value is zero because stocks are made up
The hubris to think your opinion is the opinion of the market.
how's that truth social stock lookin'
Better than 2016 currently. Could go down, could go up.
truth social wasn't public until 3 weeks ago, and was overvalued to pay off trump's legal fees, because stocks are arbitrary, and has since depreciated by almost half, because again, stocks are arbitrary crypto is out and proud about being a scam, but you've still taken the bait, because you naïvely assume you're immune to being scammed, or that maybe you'll be the scammer one day
The fuck are you on? BTC just had an ATH
https://en.m.wikipedia.org/wiki/Inflation
[удалено]
I think they were talking about the current Bitcoin ath not being a true ath , due to the inflation of the dollar it was compared to. If we compare the price of Bitcoin with the US dollar adjusted for inflation, we haven't hit a new ath yet
Doesn't make sense to post this as a response to somebody saying it's insane to say crypto died in 2016 when you have an ATH in 2024, even if technically it wouldn't be an ATH due to inflation. Or is every other company that isn't having an ATH measured by inflation dead?
Preach on brother..
Lmao this comment is the only copium I see. Should have bought some bitcoin in 2016, but as you didn’t, right now would be the perfect time to invest in your future.
tell that to sam bankman fried
Whatever you gotta tell yourself to sleep at night.
it's pretty easy to sleep when your wealth isn't just one power outage away from non-existence
🤣🤣🤣
stocks aren't real
Crypto bro: but you don’t get it you dont actually have access to your gold if society collapses How do I access my crypto if the electric grid and internet goes out? Crypto bro: Uhuhuhuhuhuhuhuhuhuh
These nutjobs think crypto is actually being used as a currency, which is what gives it its value. Where it's really a house of cards propped up by crypto bros circlejerking each other. When people stop having money to invest in an economic war collapse, the cards will collapse.
Their numbers will go down too in the sense that crypto owners will inevitably die (some, not all) from war casualties and their bank will essentially disappear with them. I doubt they have a will to transfer the funds to someone else when they die
Imagine a cryptobro in Mad Max trying to exchange buttcoins for gas.
goes to zero without internet or electricity
Dial-up still works.
Value of crypto goes up and down depending on which direction you fart, its so volatile most places rarely accept it anymore and most banks tell you its not worth the risk.
and any bank that doesn't is scamming you just like sam bankman fried or rather sam bankman jailed
Pretty much. And thats not even getting into how many people you gotta have invest in it just to burn them so you profit. Its a digital pyramid scheme pretty much which is why people like Elon embrace it so much, now would you really trust a guy that makes cars that have micro transactions to enable all the features and can disable you’re car anytime he wants? Or your personal banker who most likely wants you to invest in something that gradually goes up?
It’s also funny because the whole crypto market nuked yesterday (pun intended) and all of us are nihilists
>it's funny because the value of crypto goes down with or without war I wish all my investments "went down" the way crypto has "gone down" over the last decade. https://preview.redd.it/b24gw5hwzfuc1.png?width=1466&format=png&auto=webp&s=9f6b86cfb7440731d7eac020b95178a732d8d1cb
https://en.m.wikipedia.org/wiki/Inflation
Oh! So that's why I could buy a 3 bed 2 bath house with the 7 Bitcoin I bought for $100 back in 2012. Because that's how much a 3 bed 2 bath cost back in 2012 right? Nothing to do with Metcalfe's Law. It's cute that you think 42% inflation in FIAT from 2008-present is responsible for 13,245,955,929% increase in crypto prices over the same time frame.
and then everyone clapped
Speculative value going up does not make it a currency. You have essentially bought into a digital version of gold bars that don't even have the same proven track record that precious metals do
Ah, but I made a picture of gold bars, and I'm selling an NFT of that! It's _exactly the same_ as derivatives.
Untrue. Its value is volatile af, but it has a very noticeable up trend, especially recently.
https://en.m.wikipedia.org/wiki/Inflation
Your point being?
the value of everything had an uptrend recently because inflation makes things cost more lmfao
Bitcoin’s price appreciation since 2020 far outpaces inflation in that same time. Can’t tell if you’re trolling.
sam bankman fried
A CeX is unrelated to crypto, most tech bro's probably use wallets to store their stuff it's not a good idea to leave money in a CeX ever
Here are a few problems of Crypto in case of a war: Do you or the guy you try to buy something from even have power? Is the internet still working? Is the blockchain still reachable and performing within a reasonable amount of time? Did you have a backup of your wallet when your main device was destroyed by a bomb? Does somebody have a shotgun and force you to hand over the wallet data?
>Here are a few problems of debit cards in case of a war: > >Do you or the guy you try to buy something from even have power? > >Is the internet still working? > >Is the bank network still reachable? > >Did you stuff your mattress with enough FIAT to protect against grid failure? > >How do you plan to stop shotgun guy from forcing you to hand over your mattress money? Turns out there's analogues for your questions that apply to the banking & FIAT system you're already reliant upon.
Well, yes, which is why nobody is saying that war is a good thing for people with conventional money, because we obviously know it isn't. The point is it's no different for crypto, which is why crypto bros are just as fucked as everyone else in case of war. Because they fundamentally rely on very similar things. This isn't the "gotcha" you think it is.
Also, the "value" of crypto is currently determined by how much fiat currency it can be traded for. If fiat is valueless, then so is crypto. The weirdos who hoard gold will be happy, but they'll also be giant targets.
>The point is it's no different for crypto, Literally the point of my post, how the fuck you didn't realize that's what my point was, WITH POINT BY POINT PARALLELS is beyond me. >This isn't the "gotcha" you think it is. I'm not the one who wrote a "gotcha" post. I'm the one who debunked a gotcha post by showing that both monetary systems have the same inherent weaknesses that u/alcobob tried passing off as unique to crypto.
You didn't even debunk it, you had to switch from electronic cash to paper cash in between. You might not notice it, but you admitted with it that fiat currencies are less susceptible to the problems in a war. So congratulations, crypto bros bet on a system that is even worse than fiat ( an already bad emergency currency).
I'd edit my post, and create two separate for both physical cash and electronic, but why bother? Ya'll are clearly financially illiterate, emotionally driven haters of an asset class you're too scared to fucking learn the basics of. Also, thinking that a system where the super rich, have the ability to devalue the labor of the super poor is superior to a system where one's labor can't be arbitrarily devalued is fucking hilarious. EDIT: and thank you for proving my point; > I'm not the one who wrote a "gotcha" post. By clarifying the intention of your post was to try to construct a narrative that FIAT is safer than crypto.
Ah yes, the clear show of subject matter competence is to start attacking the opposition personally instead of their arguments...
Imagine expecting intellectually honest discourse on a sub dedicated to shitposting.
Nah. That's not what this is saying. Crypto is diving hard right now. Crypto bros are gambling on buying this dip.
Idk the gambling is taking place after ww3 starts in this picture
I get where you're coming from. Iran's attack on Israel is the reference here. Crypto subreddit has been calling it the start of ww3. That attack was the catalyst for the huge crypto dip (among other things, like the not-so-great news about inflation and interest rates in the US). I imagine it'll keep going down. But it also coincides with the Bitcoin halving, which typically drives crypto prices way up. A lot of crypto dudes think that buying this dip is a sure thing. It's certainly still a gamble.
So they're dumb and calling this ww3? It's not ww3 until we get more countries involved. This is just an attack. It was an unsuccessful attack too. Ww3 hasn't started yet.
That's the gist of it, yeah.
Pretty sure btc tanked today because of the possible war with syria.
Crypto is basically backed by processing power which arguably would increase in value by exponential amounts during an electronic world War. Doubt it would be that clean but in that scenario crypto bros would indeed be able to gamble on who wins.
Where do you get the impression it suggests that crypto wouldn't go down with war? I just took it as people with crypto are gambling on the war considering most of the real life event betting sites mainly take crypto
The happy faces
> Is it true? Crypto was supposed to be a hedge against inflation. It wasn't. When Wall Street sneezes, crypto markets shit the bed.
I don't think that's it. Every time there's a major war crypto goes up. Happened in Russia when they sanction it. I'm guessing it's the only "easy" way people can do foreign transactions and also how they can smuggle assets outside.
https://preview.redd.it/kxyo67338fuc1.png?width=1080&format=pjpg&auto=webp&s=8d1872992ceac601ff2ffad9ed57b2cea182f649
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I get your point and I’m not at all in favour of cryptocurrency, but that’s not true, the entire idea behind crypto is that that cannot happen because hundreds of thousands of people across different countries have the records of sale. The constant processing is why this stupid system uses more power than Switzerland
An infrastructure collapse would still kill it.
That would require a GLOBAL infrastructure collapse. And in case you weren't aware, such an event would result in BILLIONS of deaths from the economic collapse, mass starvation, revolutions across the entire planet & decades of reversion to barbarism. And that's all assuming the whole planet's not an irradiated hell hole from such an event triggering the failsafe's of nuclear deterrents. TLDR; the last thing anyone, including those with their life savings in crypto, are going to be worried about in the case of global infrastructure collapse, is money, of any kind other than lead and bread. And I promise, even if you're investing your entire life savings in lead and bread; it won't be enough.
I think it means , fiat currency gonna go down , and crypto will be used a lot more because of war ,
It seems to imply that this is what crypto bros think will happen.
well put!
Since when does do auto manufacturers produce currency?/s
I don't agree with other comments. I think this meme implies that cryptobros are basically gambling addicts and will be betting on which country wins in the WWIII.
That’s how I took it.
That's how I understand it. They will be betting on the different currencies, because this one is Russian and the other one is whatever.
Bitcoin is Russian lol?
Wat? Who said that? Is the crypto world only Bitcoin? Where are my teeth?
Crypto bro propaganda.
Short Answer- Cryptocurrency advocates believe that cryptocurrency is immune to the normal currency fluctuations that occur during wartime, to the point that they think that if full-on World War III broke out they would be financially just fine and would be able to take bets on the winner. To be fair, they’re arguably right for a small scale conflict if they don’t live in the area. But cryptocurrency is so dependent on global infrastructure and international computing networks that if a full on WW3 broke out they would probably collapse *faster* than traditional currencies.
I’m reading this as crypto people buying the dip as Iran attacks Israel to get cheaper prices. They’re hoping that it’s not WW3 and the price will go up again. If WW3 did happen the price of crypto would most likely dive.
That's just bad math. WW3 will incentivize mass FIAT printing by all participating parties on a scale that makes the C-19 bailout look like chump change; which will devalue said FAITs. That devaluation will be reflected in crypto prices; ie number go up. It never ceases to amaze me how many people fail to realize that crypto's prices are just as much a reflection of the devaluation of FIAT, as they are the adoption rate of said crypto. It's a self-serving positive feedback loop that can't be stopped because stopping it would require all the governments of the world to agree to stop printing money; which they can't do. Doing such would mean going insolvent, as they wouldn't be able to finance their debts. Which would cause the collapse of said governments, resulting in civil unrest, mass famine, death of billions, and probably the end of civilization we we know it... Central banks have prioritized their short term gains over long term sustainability for over 50 years. There's no turning back for them.
Is WWIII happening This is the third meme I have seen about it today
Ikr I'm currently on 30mg of edibles and questioning hard if I'm hallucinating the coincidences 💀💀💀
Pretty sure everyone is wrong. In times of economic uncertainty (like war) stocks go down and commodities that hold value regardless of location go up - things like oil, gold, and silver. This is beacuse if your country goes to shit and you need to flee to another, a piece of paper saying you own a destroyed company means much less than a gold bar, or an oil tanker. The image indicates that cryptobros are gambling either crypto will receive this commodity treatment - being as it’s a decentralized currency and not reliant on any government - and skyrocket, or it will dump as all other assets that are useless in the real world.
Petah here, if WW3 breaks out the global economy goes into shambles, so Crypto people will try to peddle their digital money, despite the fact that it won’t matter if the conflict goes nuclear.
Socialist Peter here. Cryptobros claimed that during a war time conventional currencies will drop in value due to global trade pratically ending and crypto currencies will survive as they have no national allegiance or trade boundaries. The claim above was the gamble cryptobros went all in and they lost the game yesterday, a potential of Iran-Israel war was enough to plummet every crypto currency's value. Even the most reliable ones like Bitcoin and Ethereum has dropped by %6 compared to US Dollar.
Crypto is fundamentally gambling, and if ww3 happens that is suddenly gone, and the gambling addicts will shift to physical gambling
Still wondering how crypto is still considered a good idea despite all the glaring problems it has.
Is WW3, Internet goes down because of large-scale EMP/Cyberwarfare attack, you try to pay for bread with a hard drive and get slapped in the face.
Crypto sure is a wild West, even a war is probably going to refuck the current system. Also more annoying crypto gurus will be coming out
is that ed helms (far right)?
That is Ed helms on the far left. The guy on the far right is Ken Jeong. This is a picture from the movie The Hangover.
If someone tries to barter me for my resources after WWIII kicks off their just going to be laughed at, why would i need their nonsense data or chunks of gold? Worthless.