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Old 05-13-2022, 12:07 PM
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Default Is this a solution in search of a problem?

For many years, I have gotten along just fine with the US dollar.

Now, however, there seems to be some fetish for "cryptocurrency"--as regarding which, Bitcoin is the chief player.

Is there really some good reason why we should abandon the dollar, in favor of Bitcoin?

This is a serious question.
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Old 05-13-2022, 12:10 PM
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Default Re: Is this a solution in search of a problem?

Quote:
Originally Posted by pjohns View Post
For many years, I have gotten along just fine with the US dollar.

Now, however, there seems to be some fetish for "cryptocurrency"--as regarding which, Bitcoin is the chief player.

Is there really some good reason why we should abandon the dollar, in favor of Bitcoin?

This is a serious question.
Some think it would free common people world wide from domination and manipulation by politicians and monarchs.
I don't know whether it would or wouldn't. One reason government heads don't like it is they can't control it.
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Old 05-13-2022, 12:12 PM
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Default Re: Is this a solution in search of a problem?

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Originally Posted by pjohns View Post
Is there really some good reason why we should abandon the dollar, in favor of Bitcoin?
No.
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Old 05-13-2022, 02:25 PM
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Default Re: Is this a solution in search of a problem?

I imagine this is a lot like asking, "Should I abandon stocks for bonds?", or vice versa.

I'm sure a lot of Venezuelans wish they had more of their money in crypto about now.

Point is that cryptocurrencies have their place and they can certainly be a hedge that can be utilized. Should we abandon the dollar in favor of bitcoin, well no, but that doesn't mean it can't be useful.

All your eggs in one basket and what not.
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Old 05-13-2022, 02:31 PM
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Default Re: Is this a solution in search of a problem?

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Originally Posted by Zenock View Post
I imagine this is a lot like asking, "Should I abandon stocks for bonds?", or vice versa.

I'm sure a lot of Venezuelans wish they had more of their money in crypto about now.

Point is that cryptocurrencies have their place and they can certainly be a hedge that can be utilized. Should we abandon the dollar in favor of bitcoin, well no, but that doesn't mean it can't be useful.

All your eggs in one basket and what not.
As Americans wish they had in the 80s and in 2008!

"Should we abandon the dollar in favor of bitcoin, well no, but that doesn't mean it can't be useful".
Agreed.
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Old 05-14-2022, 07:55 PM
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Default Re: Is this a solution in search of a problem?

Quote:
Originally Posted by Zenock View Post
I imagine this is a lot like asking, "Should I abandon stocks for bonds?", or vice versa.

I'm sure a lot of Venezuelans wish they had more of their money in crypto about now.

Point is that cryptocurrencies have their place and they can certainly be a hedge that can be utilized. Should we abandon the dollar in favor of bitcoin, well no, but that doesn't mean it can't be useful.

All your eggs in one basket and what not.
Well, I have "all my eggs" in the dollar.

Would you regard that as wrongheaded?
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