Crypto is dead: Many thought that Cryptocurrencies could turn out to be a hedge against inflation. Those hopes have been dashed.

The Spectator ^ | 05/09/2022 | Ross Clark

[FLT-bird]

If you held your own cryptocurrency, there is nothing the Canadian government could do to seize your assets.

By contrast if you held your money in a bank or even on the stock market the Canadian government could freeze or steal your assets.

If anything, that episode should cause people to lose more confidence in the Canadian dollar than in cryptocurrency.

[Clutch Martin]

Stock up on Bourbon and coffee cuz anything without any intrinsic value will be worthless, including that green paper you slug around in your wallet

[FLT-bird]

The difference is that several cryptocurrencies have actual use cases and real world technology behind them. Tulip bulbs had no utility.

[FLT-bird]

Bitcoin is pre programmed to only allow there to be 21 million ever.

That does not mean all the bitcoin that there will ever be has been mined and is thus in circulation yet. It hasn’t. The last bitcoin won’t be mined for many years.

[T.B. Yoits]

Governments can, and have, printed money to devalue what's already in circulation. Bitcoin, like other cryptocurrencies, have a known number of iterations that prevent that.

Printed money has a serial number on it but who's to stop a country from duplicating those numbers or outright printing excess amounts?

[Jumper]

Tulips couldn’t be electronically sent or grown. One is a flower and bitcoin specifically is money valued by millions of people independent of their government.

[SPDSHDW]

Ah. Thanks for that! Learn something new everyday!