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<blockquote data-quote="n8chavez" data-source="post: 994284" data-attributes="member: 90863">Yeah, no.&nbsp; You misunderstand what I&#039;m saying.&nbsp; I&#039;m not saying that crypto will ever take the place of a bank.&nbsp; Where you got that idea I don&#039;t know.&nbsp; You know that the value of government-backed money changes value too, right?&nbsp; It&#039;s called inflation, and conversely deflation.&nbsp; The difference being that with crypto, because of the blockchain, there can only be a certain amount of that &quot;coin.&quot;&nbsp; However, governments can simply print more of their currency, thus devaluing what is already in circulation.&nbsp; Don&#039;t believe me?&nbsp; Look at the value of the USD between 1970 and now.&nbsp; Can $1 then by the same as $1 now.&nbsp; No.&nbsp; So understand the difference; I&#039;m not talking about if a bank were to go under.&nbsp; I&#039;m talking about the value of the money a bank holds.&nbsp; If that were to be devalued there&#039;s nothing any government or insurance can do.&nbsp; This is why people diversify.An your argument about people being suckers and losing their money if hard for me to understand?&nbsp; Are these people freaking out at dips and selling?&nbsp; That would be the only way to lose money.&nbsp; Never invest with money you cannot afford to lose.&nbsp; I bought BTC @ 2.5K usd, and made a lot of money with it.&nbsp; Of course, you cash out then put in in the bank or reinvest. The point being, treat crypto like the stock market; buy low, sell high, and NEVER sell unless you have to.&nbsp; It&#039;s not that hard.Gone are the days where the USD was backed up by gold.&nbsp; That hasn&#039;t been the base for years.&nbsp; How do you protect against inflation?&nbsp; You diversify.&nbsp; It&#039;s just that with crypto we have another market to try.Think of crpto not as a currency.&nbsp; It&#039;s not there (yet).&nbsp; Think of it like a tool, like the stock market.&nbsp; The whole point is to see your value go up and then cash out into used currency.&nbsp; If you never sold what would be the point?</blockquote>

[QUOTE="n8chavez, post: 994284, member: 90863"] Yeah, no. You misunderstand what I'm saying. I'm not saying that crypto will ever take the place of a bank. Where you got that idea I don't know. You know that the value of government-backed money changes value too, right? It's called inflation, and conversely deflation. The difference being that with crypto, because of the blockchain, there can only be a certain amount of that "coin." However, governments can simply print more of their currency, thus devaluing what is already in circulation. Don't believe me? Look at the value of the USD between 1970 and now. Can $1 then by the same as $1 now. No. So understand the difference; I'm not talking about if a bank were to go under. I'm talking about the value of the money a bank holds. If that were to be devalued there's nothing any government or insurance can do. This is why people diversify. An your argument about people being suckers and losing their money if hard for me to understand? Are these people freaking out at dips and selling? That would be the only way to lose money. Never invest with money you cannot afford to lose. I bought BTC @ 2.5K usd, and made a lot of money with it. Of course, you cash out then put in in the bank or reinvest. The point being, treat crypto like the stock market; buy low, sell high, and NEVER sell unless you have to. It's not that hard. Gone are the days where the USD was backed up by gold. That hasn't been the base for years. How do you protect against inflation? You diversify. It's just that with crypto we have another market to try. Think of crpto not as a currency. It's not there (yet). Think of it like a tool, like the stock market. The whole point is to see your value go up and then cash out into used currency. If you never sold what would be the point? [/QUOTE]

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