Re:Bitcoin could trigger financial meltdown, warns Bank of E...
by throw0101a on Thursday October 14, 2021 @05:04PM
(#28870092)
> You mean all of those houses that need to be tear down as they deteriorated to the point of ruin?
People got paid to put them up, and people were paid to tear them down. At least some people were able to put food on the table because of that activity, even it was kind of wasteful.
> China has so such vast reserves of dollars that they can crash US $ value and cause international panic. Meaning that at any stage you $ saving have chance to be worth nothing.
Do they have more than what is present in the US itself? More than the EU? Japan?
Even if USD ends up dropping in value relative to other currencies, it will help US exports, where the US is second-highest:
> The BTCs do have value and its a cryptographic promise that cannot be broken.
BTC is just as imaginary as anything else of "value" for humans except for air/oxygen, shelter, water, and food. Regardless of what is called "money" is is a figment of the human imagination: sometimes more useful, sometimes less.
At least with dollars I can buy a hamburger, pay my taxes, etc.
People got paid to put them up, and people were paid to tear them down. At least some people were able to put food on the table because of that activity, even it was kind of wasteful.
> China has so such vast reserves of dollars that they can crash US $ value and cause international panic. Meaning that at any stage you $ saving have chance to be worth nothing.
Do they have more than what is present in the US itself? More than the EU? Japan?
Even if USD ends up dropping in value relative to other currencies, it will help US exports, where the US is second-highest:
* https://www.statista.com/statistics/264623/leading-export-co...
> The BTCs do have value and its a cryptographic promise that cannot be broken.
BTC is just as imaginary as anything else of "value" for humans except for air/oxygen, shelter, water, and food. Regardless of what is called "money" is is a figment of the human imagination: sometimes more useful, sometimes less.
At least with dollars I can buy a hamburger, pay my taxes, etc.