>I mean bitcoin is legal tender in El Salvador now

although I respect the size of bukele's balls, the people of El Salvador don't want bitcoin and have rejected it. El Salvador has massive and systemic problems making it a terrible place to live. there is hardly any infrastructure to support blockchain. the country is ruled by gangs and the cartel. 70% of the population is unbanked. pushing rural people who barely have the concept of the internet into blockchain is a pipe dream. there are many reasons to believe bukele's decision was influenced by the cartel.

some things to consider. why did bukele push bitcoin when other cryptos can be sent faster for a few cents? bitcoin is limited to 7 transactions per second with an average transaction fee of $18. bitcoin technology is slow, expensive, and drains energy. to mitigate this issue the government in el salvador will utilize a node on the lightning network hub they control, which means the government will be able to censor transactions, stop, freeze, and regulate. doesn't sound like financial freedom to me but more like a dystopian wet dream. or just maybe, bukele is a crypto bro with a severe case of fomo and a poor nation's resources to pump his investments with. using el salvador as a positive use case for bitcoin is pure fantasy.

>And I'm sure Vietnam, Pakistan & India won't be too

vietnam is probably the best candidate for crypto adoption, time will tell.

the pakistani government is calling for crypto regulation although it has no objection to investment. wasn't crypto supposed to be free of regulation and decentralization? you can see where this is going. (nations will never yield control)

india is considering a crypto ban outright.

>Could be talking about our current fiat banking system with that statement too

on one hand, many crypto investors criticize fiat and attempt to liken it to some of the most fundamental flaws in our financial system with whataboutism, and on the other, they amass crypto in order to exchange it for fiat. philosoraptor enters the room. what are you investing in if not for high fiat returns? if everyone buys, the value goes up, if everyone sells, the value falls. the intrinsic similarities between crypto and ponzi are self evident, everyone can't win.

>Don't know if you been keeping up with the economy but inflation is at a 30yr high

the impact of the pandemic is clear, but it is not a forever problem. vaccination rates are on the rise and society is steadily returning to "normalcy". it may get worse before it gets better, but the global economy will recover. the pandemic was a black swan event that for all intents and purposes the world has done quite well to endure. it is no surprise the value of crypto went up at this time, and it is telling, that it relies on global catastrophe to prosper. what does crypto look like in a post pandemic world when the economy recovers do you think?

>What do you think is going to happen to the dollar when that bubble pops?

can you go into some detail here?

>It won't be shut yielding control but they will have to adapt

bitcoin will never be adopted by the big players. it's garbage tech with high transaction fees and massive negative impact on energy with high volatility. it costs me $0 to send and receive funds via my online bank portal using the speed of light. what problem is bitcoin solving exactly? i also have security and insurance and someone i can call if a problem arises. who do you call if you input just 1 wrong character on your crypto transaction? noone, because those funds are gone forever. who do you call if you have been hacked? noone. being your own bank is a lot more complicated and nuanced than crypto investors are willing to admit. many of the problems that bitcoin is positioning itself against have already been solved and are handled 1000x more efficiently, that is not to say there are no uses for blockchain, and many of the big players are building their own, they will never ever yield control.


corporations will
>never accept crypto as payment due to volatility.

>Lol once again this ain't 2011

would like to hear you expand on that a bit.


>But you kind of have an antiquated understanding of crypto

can you go into some detail?


>https://www.fa-mag.com/news/paul-tudor-jones-is-using-crypto-to-hedge-against-inflation-64503.html

everyone who invests in crypto becomes an instant marketer and salesman for crypto, essentially working for free. the more you can recruit, the higher your returns, bitcoin is the greatest mlm, ponzi ever created. doesn't matter how much you put in, the lambo dreams are strong. paul is clearly a whale and whales benefit the most, just like musk, who can change the value of your investment with a tweet. does this sound stable and secure to you?

>I mean yes the earlier you get in on investments the higher the return

this is the essence of ponzi.


>Not to say there aren't any pump n dumps out there

speaking of pump and dump. i would advise you to read the following.

https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3

tether is the greatest pump and dump scheme we have seen to date.