Asklemmy

43803 readers

808 users here now

A loosely moderated place to ask open-ended questions

Search asklemmy 🔍

If your post meets the following criteria, it's welcome here!

Open-ended question
Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
Not ad nauseam inducing: please make sure it is a question that would be new to most members
An actual topic of discussion

Looking for support?

Looking for a community?

Lemmyverse: community search
sub.rehab: maps old subreddits to fediverse options, marks official as such
!lemmy411@lemmy.ca: a community for finding communities

~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~

founded 5 years ago

MODERATORS

Fiat doesn't work on a finite planet. Crypto has failed on its goals. What is a better way to be economically secure? (infosec.pub)

submitted 3 months ago by aviation_hydrated@infosec.pub to c/asklemmy@lemmy.ml

107 comments fedilink hide all child comments

Assuming the title to be accurate, what is a good way for the working class (90%+ of all humans) to save and succeed in this current environment?

you are viewing a single comment's thread
view the rest of the comments

[–] hglman@lemmy.ml 1 points 3 months ago (2 children)

But also no.

[–] rockmeat@feddit.org 6 points 3 months ago

yeah, it succeeded in scamming a lot of people for their money

[–] dmegatool@lemmy.ca 2 points 3 months ago* (last edited 3 months ago) (1 children)

BTC 130% up last 365 days. 10% up last 30 days

But seriously if everybody would use crypto, the up and downs wouldn't matter. The value/pourcentage is only VS Fiat.

[–] bionicjoey@lemmy.ca 5 points 3 months ago (2 children)

Newsflash: currencies shouldn't wildly fluctuate in value. The fact that people use it like a stock market investment, (and an idiotic one at that, since there is no underlying business), is exactly why it has failed to be a currency.

[–] aviation_hydrated@infosec.pub 0 points 3 months ago* (last edited 3 months ago)

What does the term "wildly fluctuate" mean? In 50 years of USD fiat, gold vs USD has gone from 35$ to ~2000$ per ounce. That seems pretty rapid to me, since I can still talk to living people who experienced it

At least BTC has historically gone up, whereas fiat goes down, although only a few years of data for crypto compared to thousands of fiat, so maybe crypto will do the same as well

[–] dmegatool@lemmy.ca -2 points 3 months ago (1 children)

It fluctuate vs the Fiat value, not with itsleft. The supply of BTC is determined, not like the printing machines we got now.

[–] bionicjoey@lemmy.ca 2 points 3 months ago (1 children)

Nothing's value fluctuates with itself. Money supply is controlled through interest rates in modern economies because it works better than directly controlling the money supply. Your comment betrays an unsurprising lack of understanding of the most basic concepts of economics. You're just parroting some talking points you've heard from techbros.

[–] hglman@lemmy.ml 0 points 3 months ago

No, you think economics is a physical science and it isnt. It works like it does bc its been made to work that way. It could work differently.

Also Bitcoin isn't the only way cryptocurrency could or does work.