While most shitcoins and NFTs will tumble, the topcoin rallies are not going to stop until the economy gets roaring back and inflation is controlled.
While most shitcoins and NFTs will tumble, the topcoin rallies are not going to stop until the economy gets roaring back and inflation is controlled.
It's hard for a person to understand a solution when its fortune depends on not understanding it. The Fed just mentioned they might raise rates for a blip on the stock market. Imagine what they do if they actually raise them. Oh, noes, the USD might actually hold some value! How will the economy recover if people's savings aren't stolen?!
HN readers generally understand inflation, but when I see questioning bitcoin's energy cost, I wonder if those questioning it really understand the high costs of manipulating the price system through inflation: that manipulation causes the boom and bust cycles due to malinvestments.
There are numerous articles every week about the “great resignation” and staffing shortages in foodservice and other industries as everyone leaves for higher paying jobs.
Wages are going up. It’s not the end of the world.
> Most are desperately looking for opportunities to make enough returns.
Stock market has been outpacing inflation just fine. Classic investment advice still holds.
Those “returns” in crypto can only come from selling coins to someone else in the future. It relies on a constant stream of convincing new people to turn over their real money in exchange for virtual money.
> While most shitcoins and NFTs will tumble, the topcoin rallies are not going to stop until the economy gets roaring back
What a weird thing to say when the economy is roaring, unemployment is low, and top cryptos are steadily declining.