this post was submitted on 12 Jun 2023
1374 points (98.4% liked)
Lemmy.World Announcements
29034 readers
5 users here now
This Community is intended for posts about the Lemmy.world server by the admins.
Follow us for server news 🐘
Outages 🔥
https://status.lemmy.world
For support with issues at Lemmy.world, go to the Lemmy.world Support community.
Support e-mail
Any support requests are best sent to [email protected] e-mail.
Report contact
- DM https://lemmy.world/u/lwreport
- Email [email protected] (PGP Supported)
Donations 💗
If you would like to make a donation to support the cost of running this platform, please do so at the following donation URLs.
If you can, please use / switch to Ko-Fi, it has the lowest fees for us
Join the team
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Indeed. It's a vehicle for speculation (aka gambling), not a viable currency.
Then it's doomed to deflate endlessly. A quick look at the Great Depression should tell you why that's catastrophically bad. The Fed keeps the USD inflating for a reason.
No crypto bro has any business lecturing anyone on economic fundamentals. Especially not one who seemingly doesn't know that deflation of the main currency is to be prevented at all costs unless you want to see bread lines.
Lol no, it's the same way any up-and-comer has volatile value initially because there's uncertainty as to the outcome.
Great Depression "deflationary spiral" was a direct consequence of the Fed's inflationary policies during the 1920s. These are all just discredited mainstream econ talking points. And get out of here with this "crypto bro" BS, god forbid anyone have an original thought that differs from your thinking.