Quote:
Originally Posted by afc wimbledon
forex trading though is predicated on constant bets on relatively tiny increases, those value fluctuations rarely register with the general population or affect their activity.
And yes Governments do constantly monitor the money supply to check deflation, they will print a ton of money to balance it out if it starts to occur, something that you cant do with a pegged currency, whether you peg it to gold or some arbitary digital rule.
Imagine if Canada used bitcoin right now instead of a centrally controlled dollar, there would be no covid relief, the Government literally wouldnt have any money to give out, the streets would be full of the recently evicted unemployed on soup kitchen lines, you know like 1929.
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I’m not arguing Bitcoin should replace CAD or USD today or anytime soon
Should every car be replaced by a Tesla tomorrow ? Lots of logistical problems
Again- if you’re in the UK , Canada , US or Euro region you have good stable ( but very expensive ) banking
Crypto can reduce costs to merchants, and provide an easily liquid and accessible currency
It is literally easier to buy crypto then USD in a lot of countries