When they say cash is dead they're wrong, actually cash is king. There will be few places to hide but not for long because Inflation has become a mantra, a widely held mindset, prepare yourself for something far worse, deflation.
essestanley
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Which one the big capitalist likely to support? Coinbase or Bitcoin?
fringe_chartist
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I get it, the idea matches current herd sentiment, however Coinbase is the antihesis of crypto. It's a clearing house. Conflating the two is like comparing apples to air, considering Coinbase is a terrible product with bad experiences all around. Nobody needs Coinbase. But people DO need crypto long-term, despite the downturn in prices. Just compare Coinbase to Bitcoin at a glance to get a perspective:
Coinbase ---------- Works like a stock exchange clearing house from hundreds of years ago Is at the mercy of board members Promises to be fiscally responsible to its shareholders through stocks and dividends Promises to hold your coins safely with a "small" chance of losing customer funds and bankrupting the entire company Is forced to censor your transactions and can confiscate funds - is a trojan horse for surveillance and authoritarianism Doesn't always work - can pause trading at any time - it is run by people who WILL make mistakes
Bitcoin ---------- Is not based on a business model Anyone can improve code or propose changes Does not promise anything Cannot be censored PR department costs 0$ and is the most effective PR campaign of all time - the BTCUSD price Always works - it is not run by anyone and can't be frozen for "safety reasons"
Conclusion: Coinbase is actual trash. The definition of a ponzi scheme.
FunkyPizza
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@fringe_chartist, You conflate the intent and purpose of Bitcoin with Coinbase; their purpose is not one and the same. Coinbase is not meant to replace Bitcoin, but rather compliment and enable it. Exchanges like Coinbase are going nowhere. As long as fiat exists there will be need for fiat on and off ramps. Full stop. Decentralized exchanges cannot act as a fiat on/off ramp.
The_Master_
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stock market crash cycle is a lot longer than bitcoins so now that Bitcoin has crashed people will flood into the next best thing...