Bitcoin and Gold Are Monuments To Irrationality

Finally, a sane person, good job Lionel!

There's nothing in material things, budy.
No value, no nothing! Things alone can't solve crisis.
Without monetary policy to mitigate those sharp cyclical peaks and troughs of the free economies, the world is chaos.
The world finance need a paradigm shift, but encrypted files or gold (standard) are not solutions.

Hilarious, TudorIoan....I was thinking of you while reading this article. You digital voice echoing inside my head!

Very much appreciated your efforts to understand and support cryptos.

The Fed didn't bailed out the banks, Hutch!
It was the politicians under the siege of the lobbists, those who can assure the politicians' eventual re-election. The core of the corruption lies there.

That's why they keep the Fed from being influenced by the day-to-day vicissitudes of politics, it is not under the direct control of any branch of government.
Nor the Executive, nor the Legislative, nor the Judicial. It's a special institution ...beyond private concept, impossible to understand for teeny anarchists and economic illiterates.
So, we still can have the US separations of powers, the Checks and Balances system...
And that's why the crypto oligarchy will be even worse, much worse!

You say people hate "the change"??? Depends on what sort of change, bud.
When it comes to tear down the government, definitely not, people love change as they love revolutions against the powerful
The logic never matters, because the powerful and the rich are always guilty

It's a long discussion about store of value... but bitcoin at its best can only be a medium of exchange for the real fiat money.
I don't particulary fancy the fiat, is just that they are so fkn REAL and I can't ignore that

The world will never adopt bitcoin. This baby was born sick. The numbers doesn't count for the long term.
It's only the blockchain which really matters. Blockchain may have a future.
But post-KYC-era control, encrypted money is like any other digital money and any sane person can demonstrate that very easy today.

.......But the world embraced religion. After all, anything that makes you feel better may become REAL
...even if bitcoin will consume all the energy from this planet, people will just love it because they killed the Fed dragon !

Those who hate the Fed and think that we are better off without them might be a little ignorant. But not as bad as the 'audit the Fed' crowd. Anyways, the reason I say that is those economists at the Fed are all very smart, as well as very dedicated.

Those guys and girls in charge of monetary policy, they don't cause a crisis. They help either avoid them or get out of one. Yeah, they bailed out the big banks and helped the same characters who put us in the last economic crisis. But that doesn't mean they wanted to. They weighed all factors and did what was best for the position we were in. That's all. Bernanke especially doesn't get the credit he deserves and I hope history will reflect that we were very lucky he was chief when it all went down. Dude is the man.

The Fed isn't perfect and they know that better than me or anybody else. Specifically, using rates to achieve their dual mandate is fading as the tool to use. There's been some hints from certain members that we may need to rethink that. They might be forced to find alternative policy tools instead of negative rates and QE. I don't think they'll go down that path again.

Anyways, the point of my post which ended up being longer than I thought it would is that bitcoin will not replace the USD while the Fed dissolves. That's ridiculous. Bitcoin is something new and people usually hate change. Even the CFTC has refused to recognize it for years. They're finally coming around. It's here to stay and it could be a number of things:
- a store of value
- a medium of exchange (as an alternative to currencies not replacement)
- the currency of the internet
- replaced

Who knows, it's unprecedented. But when the future unravels, I strongly believe bitcoin and cryptos will be a part of it. Cryptocurrencies in general bring solutions to problems (mostly business, government, etc) we otherwise would never solve. The quicker we get to regulation and then hopefully adoption, the better off we'll all be. The future is bright, with cryptos.