Post
Topic
Board Economics
Re: Bitcoin can decrease economic development
by
deisik
on 11/09/2018, 09:12:02 UTC
Being worried about this new era. We are bound to digital worlds and forgotting the needs of our physical world.

If our farmers, fishermen, and other workmans that focus on agriculture would know how to gain bitcoin, will they still do their profession? However to some country, this is not a profession but a job to earn money. And if they learn about bitcoin, will they be able to continue earning from their hardworking jobs?.

What can you say about this?
But why would farmers stop doing their job just because they became familiar with cryptocurrency market? Do you mean that they will leave their jobs to do the full time crypto trading? Come on, dude, I don’t think so it is possible. First, cryptocurrency trading as a means of daily income is very dangerous. Second, one needs to be a literate person, with good analytical and technical skills and some experience to trade profitably in the market. I don’t think so that farmers would give up their job for crypto.

This is technically impossible, i.e. everyone trading and making profits. In real world, only a few selected percentages of traders are actually earning enough to provide for a living. The rest are losing in the end, and things are not going to change radically if everyone and his grandma start trading, be it crypto or anything else. So farmers, millers, fishers, or whoever will eventually get back to their profession and their jobs after they burn their fingers and lose some money. In fact, something like that actually happened in 1929 when common people started to speculate on the US stock market. What it ended with is very well known

It ended with a disaster