Comment on SEC says it will deregulate cryptocurrencies with 'Project Crypto'
Lumisal@lemmy.world 3 weeks agoIt rebounding and crashing by hundreds in value like a meth head on caffeinated cocaine laced with LSD is what doesn’t make it a currency.
No one wants a shit currency where one day a donut costs 1000 and the next 2000 and on the weekend it’s either 599 or 3999.
That’s why it’s at best a speculative asset, except it’s dumber than that because it’s intangible. It’s like the long term stupidity of fiat mixed with insane instability, all while using way more resources.
iopq@lemmy.world 3 weeks ago
Same thing happened to the Argentine peso, let’s not pretend if you make a government currency it’s magically stable
Lumisal@lemmy.world 3 weeks ago
The Argentine peso crashed and then stayed down. That’s actually a sign of stability, because it’s remaining at a constant, not jumping up and down wildly.
It didn’t crash only to go back to original value to the decrease by half and undulate like a wave, like Bitcoin and other crypto does.
iopq@lemmy.world 3 weeks ago
What are you talking about? It crashed, then crashed again, then crashed again. How is that stable?
Lumisal@lemmy.world 3 weeks ago
You mean all crashes then? The 3 that have happened in over ONE HUNDRED YEARS?
You can’t be fucking serious to compare that fluctuation with Bitcoin’s