I don’t know what to say. Or the person behind this is 150 years old and was living under a stone, or is someone that obviously has 0 knowledge about Blockchain
this is hilarious: having control over supply of your currency is a good thing, as long as it’s well run.
well run? how and by whom?
“According to a study of 775 fiat currencies by DollarDaze.org, there is no historical precedence for a fiat currency that has succeeded in holding its value. Twenty percent failed through hyperinflation, 21% were destroyed by war, 12% destroyed by independence, 24% were monetarily reformed, and 23% are still in circulation approaching one of the other outcomes.
The average life expectancy for a fiat currency is 27 years, with the shortest life span being one month. Founded in 1694, the British pound Sterling is the oldest fiat currency in existence. At a ripe old age of 317 years it must be considered a highly successful fiat currency. However, success is relative. The British pound was defined as 12 ounces of silver, so it’s worth less than 1/200 or 0.5% of its original value. In other words, the most successful long standing currency in existence has lost 99.5% of its value.”
> 23% are still in circulation approaching one of the other outcomes
Begging the question a bit
It's also been quite easy to predict which currencies are going to be in in that 23% and have stable value ("hard currencies") and which aren't. Traders and investors typically don't keep assets denominated in Egyptian Pounds or Colombian Pesos, they gravitate to Euros, US Dollars, Yen, and Pounds.
> In other words, the most successful long standing currency in existence has lost 99.5% of its value.”
The Pound Sterling hasn't been successful as an investment asset. That's a very different thing from being successful as a currency.
The problem is that the person doesn’t even understand the principles of BTC , why it came to be and why is there. He could just post a tweet , I don’t like BTC and spend the rest of his time brewing coffee
He started in another comment that he has a short position. I theorize that he knows what he's saying is nonsense and it's just trying to misinform the less educated by playing on common (and actively disproven) misconceptions.
