Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: THIS CRASH IS DIFFERENT than previous crashes... The FEDERAL RESERVE is why....
by
Gyfts
on 29/06/2022, 18:37:39 UTC
⭐ Merited by JayJuanGee (1)
Bitcoin has ZERO intrinsic value, it is only worth what someone else will pay for it.   Without the speculative bubble of the past 14 years to support Bitcoin, will go close to its value of ZERO.

Bitcoin has NEVER seen an era of rising interest rates and tight money before.  This time IS DIFFERENT !!!!!  Ignore this fact at your own risk  Grin


This logic has been debunked so many times. Any currency is worth whatever the free market will pay for it. No one is inclined to give you any amount of goods per any unit currency unless that currency is pegged to something inherently valuable. Gold standard is long gone so that isn't going to work. I suppose you believe that currency has inherent value because the government sustains that value? You happen to have more faith in the system than any other rational person. Record inflation rates from COVID money printing in nearly every currency, and these are the people you trust?