Re:Ask HN: Is anyone else glad the crypto market is crashing?
by matheusmoreira on Thursday May 12, 2022 @10:05PM
(#31362432)
Finite supply doesn't even matter anymore since exchanges are now operating like banks with fractional reserves, loans and everything. Through credit they can inflate away the value of cryptocurrencies as much as they want. The entire financial system was reinvented on top of bitcoin, it's the worst possible outcome.
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Re:Ask HN: Is anyone else glad the crypto market is crashing?
by mattwilsonn888 on Monday May 16, 2022 @04:44AM
(#31394758)
> entire financial system was reinvented on top of bitcoin
You can build shit on top of anything. But you can't build anything worthwhile on top of shit. Bitcoin at least has a solid, extractable, base.