Re:Bitcoin pyramid schemes wreak havoc on Brazil's 'New Egypt'
by ChuckNorris89 on Saturday January 22, 2022 @04:11PM
(#30040869)
>A quick example is Turkey where the USD gained against the Turkish lira a lot and lost over %30 value overnight but USD is still good.
Your comment serves to make a point for strong and stable fiat like USD, not for Bitcoin which also just lost around 40% of its value in a month.
Re:Bitcoin pyramid schemes wreak havoc on Brazil's 'New Egypt'
by mrtksn on Saturday January 22, 2022 @04:29PM
(#30041004)
Only small part of the worlds population lives in a western democracy(about %10). People around the globe(the %90) pump and dump all kind of currencies all the time, including USD. Don't forget that sudden value increase and decrease cuts both ways. BTC is just like USD for a lot of people, just easier to trade.
BTW I don't hold any crypto, I simply find it fascinating and I think there's some merit in its ideas and technologies.
Also don't forget that if it happens that BTC replaces the government controlled currencies as some pundits claim, there won't be pump and dumps etc. No one pumps and dumps USD in the USA but they do it in other countries.
A quick example is Turkey where the USD gained against the Turkish lira a lot and lost over %30 value overnight but USD is still good.