Geez, isn’t that a dogecoin knockoff meme coin? Guess you can now become a crypto billionaire on the back of a knockoff of a meme. What a strange world we live in.
The point of Dogecoin was to mock how ridiculous the "sound money" narrative of cryptocurrency is by showing how easily more - infinitely more - of it could be created with almost zero efforr, and nobody seemed to care to do the least bit of common sense research before ithrowing real money into it.
I am no fan of crypto but that is non different then any fiat money no? In fact dodge at least has some sort of rate limit where fait system have non.
But being limited has no inherent value.
Their states command economic, diplomatic or military power which they often use to protect and develop their economies and the associated currencies. Often the decision makers are accountable in the form of elections and rule of law.
Crypto on the other hand is purely market driven and free floating. It's very easy for bad actors to manipulate the currency itself rapidly, something that does not happen to Dollars or Euros.
Cryptobros and others disagree whether anything outside of fully unregulated market forces is a good thing.
There is a lesson here about how the developer doesn't have any influence over the crypto once a community gets involved. At least, not in their capacity as a developer.
The "clowns at the Fed" who manage the world's -- by far -- safest liquid asset
ha-ha-ha-ha-ha, and what do you think 10 pounds note is? Take 5 pounds note, throw some logo around, add Queen face and voila
Crypto made me understand how much money are laying around. Now only if I could build a product people wanted...there is literarily money growing on trees.
My point tho is that people have a lot money laying around.
They don't. The taxi drivers, hairdressers, and hotel doormen that got caught up in crypto are going to lose a significant chunk of their life savings if these exchanges blow up. There's 2-3 trillion dollars in crypto at this point, how much of that is from unsophisticated retail investors? A quarter? Half? Nobody knows.
No, there's not.
Issuing a trillion CJCOINs and selling one for $1 gives me a trillion dollar market cap, by cryptocurrency valuation standards. There's not actually a trillion dollars invested into the CJCOIN ecosystem.