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Old 05-11-2022, 08:43 PM
HVA7mm HVA7mm is offline
 
Join Date: Jun 2010
Location: Edmonton
Posts: 1,229
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I guess right now as an investment, I kind of understand getting into crypto due to its' perceived "rarity", not unlike NFT's, fine art, wine/whiskey, cars, rifles (ex wives lol). However most collectors still like their collectibles to actually be tangible. Comments on the security of crypto can become a moot point should you lose your thumb drive or other back-ups, not to mention no access to a computer/internet in the event of a catastrophic power/communications failure. I do however admire the cajones (or disposable income) that it takes to play in this pool.

What I can't really wrap my head around is not knowing when/where/by whom, a global crypto standard will be decided on. With nearly 1600 types of crypto currencies, how can a vendor/retailer/wholesaler/individual even begin to decide which currencies they will accept in exchange for their goods, and what standard will that currency be based on. With the wild and constant fluctuations in perceived value, it's asinine to think that any retailers in their right mind would consider accepting any crypto let alone all crypto variations in the near future.

If it's not the near future, then how far out are we talking here until we have a global crypto standard? The gold standard lasted for about 100 years, before that it was silver and bi-metals and plain old trading of goods and services, and for the last 50 years or so fiat currencies backed by governments.

My time on this planet is finite, and although I know some people that have done quite well in the crypto game, there are currently way too many variables and unanswerable questions for me to consider betting the farm on crypto of any kind.
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