QUOTE(ljken @ Feb 25 2022, 12:00 AM)
Dun catch falling knife boss
Volatility is always scary.
I thought that before, having regulation would ensure that cryptocurrency have a place to stay. Including tax and or transaction related charges.
but the bigger risk is, eg USA just outright ban the transactions. Unlikely since most of the origin of cryptocurrency is based in USA?
For USA to ban cryptocurrency, means they need to argue against having cryptocurrency. of which we have the following, they dont control the minting of cryptocurrency.
Just how much effect cryptocurrency have on USD? -- if the effect is it boost USD --- for sure they will keep it going. If it devalue USD... you betcha -- ban hammer coming. Even if you got institutional investor blah blah...
China and India already ban. - but they are trying to do their own cryptocurrency.
To me, I think of cryptocurrency as a politically neutral currency. but it is just way too volatile and I do not think it will go to the moon.
Is cryptocurrency a trap to burn all fiat currency? maybe, because now people are using hard earned fiat to buy crypto- and once it hits a certain level, the government just come out and say ops sorry, we dont want you to cash out your crypto --- ban hammer. After that, all your "hard earned money is trap in crypto with no use and no ability to convert to fiat for usage"
Is that the real reason China ban it?
Just be careful. Dont borrow money to sink into crypto.
eg. just like we use hard earned fiat money to buy gold coins in World of Warcraft --- ever think that it may be one way only? because it could be. and for US federal reserve, does buying cryptocurrency using USD have the same effect as taking USD out of circulation?
This post has been edited by skywardsword: Feb 25 2022, 05:26 PM