Re:Major crypto lender Celsius freezes withdrawals as market...
by rglover on Monday June 13, 2022 @01:01PM
(#31728273)
> The Fed can't steal it or debase its value either.
This is literally what money printing does.
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If you view it as Monopoly money, then don't use it. I don't know what to tell you; Bitcoin's transaction volume clearly shows that people use it. I've been paid with it and I've paid others with it.
> the monopoly notes have zero fiat cash value
Bitcoin is currently trading at $23,678. That's quite a bit of fiat cash value. Like I've said elsewhere in this thread, if that number goes down, I'll just acquire more of it because the properties I care about remain intact irrespective of USD price. Your opinion of what I do or do not view as money is, frankly, irrelevant.
How's that different from the paper notes in a Monopoly game box? The Fed can't steal it or debase its value either. I still need a large group of people that also hold monopoly money and are willing to transact goods and services for it, with the understanding that the monopoly notes have zero fiat cash value.