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Mark Mobius: Crypto Is A Religion, Not An Investment

Mark Mobius: Crypto Is A Religion, Not An Investment



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8 Comments

  1. all investments, all technology has ideological underpinnings. bitcoin just happens to be a paradigm shifting ideology. so it might feel like a religion because it is changing the world for the better. they have accused apple fans and elon musk fans, and climate change fear mongers as following a religion too. bitcoin is no different, because bitcoin is big. so in that sense bitcoin is a religion and an investment. religion is an investment too.

  2. >Mocking Bitcoin loyalists, he said that stocks, rather than cryptocurrencies, are the ultimate solution to rising inflation.

    For a starters, that very much depends on whether corporations will be allowed to react to inflation with price increases. In Venezuela, the supermarkets were not allowed to do that. So, while the purchase prices went up, their own sales prices had to remain the same. The result was empty shelves and bankrupt supermarkets.

    Next, lots of corporations could be locked into unhedged long-term contracts that do not leave open the possibility for a price increase. So, while their own input prices are rising, they cannot charge more.

    For example, a bank may offer you a constant monthly payment for the next 30 years. In the meanwhile, the bank itself rolls over that loan on shorter-term markets where it has to make increasingly larger payments to service your loan.

    There are lots of scenarios in which corporations will fail to handle (hyper-)inflation. I do not believe for a second that they will all come unscathed out the turmoil. Therefore, even though some stock will survive and possibly even thrive, a lot of other stock may actually become worthless.

  3. Hail Satoshi, our Lord and Savior.

    He delivered us from Fiat, and led us to the promised land of Sound Money.

    May our Fees be sufficient and our Transactions confirm in the next block.

    Hodl.

  4. The stupid little fuck was making the comment to support his view that Bitcoin was irrational emotional and unsound. He has secured himself a place on the wall of shame as an irredeemable heretic and come the revolution he will not escape the inquisitor’s wheel. Or rack. Whichever.

  5. >He said that stocks, rather than cryptocurrencies, are the ultimate solution to rising inflation.

    When Venezuela experienced hyperinflation, the Venezuelan stock market went up 200,000%.

    Measured in **bolivars**. Measured in USD, the Venezuelan stock market **lost 95%**.

    When USD starts to inflate, the stock market ain’t gonna’ save ya’. But Bitcoin will.

  6. All investments are religious metanarratives, why are humans such stupid clowns? Reificiation is a massive part of human evolutionary psychology. Without the ability to do it, they don’t breed.

    The “Greater fool” criticism applies to every single story humans tell about their value-storage language games.

    Some stories are more robust / parsimonious than others. Bitcoin is – so far – the most robust “money” story humans have told. I see how wide of the mark it actually is, but doesn’t mean I’m going to miss the opportunity to use it.

What do you think?

VeChain (VET) Oppresses Bearish Rule, VET Price is Set to Explode By 40%! - Coinpedia - Fintech & Cryptocurreny News Media

VeChain (VET) Oppresses Bearish Rule, VET Price is Set to Explode By 40%! – Coinpedia – Fintech & Cryptocurreny News Media

Made a SAMPLE of how the rest of my seed words look stamped onto this beauty. Thanks for all the love and feedback everyone!