RE: Bitcoin ⬆️ - Housing ⬇️
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Interestingly, those who supposedly sold their belongings to buy bitcoin during the pandemic era were called fools. I hope some of them are still holding onto it, as it will definitely be worth much in the near future. Do you foresee a time when bitcoin or crypto in general suck up all the value that currently exists in traditional systems simply because the former is better at holding or even multiplying this value that the latter?
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I see Wall Street empty.
Nothing there except empty buildings.
Most of what we call assets today, are just gone in the future.
We will find, that with a money that is not inflating, you cannot charge interest.
So, bonds become a thing of the past. And why would you invest in paper that represents bitcoin, when you could just own bitcoin?
Etc.
Right. I think crypto for the most part is "sound money". Blockchain is a superior system than many of these opaque traditional systems. The latter could well be a house of cards.
It is worse than a house of cards.
Derivatives exist because most are not ever called in, because they are too difficult to figure out who owes who what. If anyone looks, it will all go poof.