IGNORE THE KID. LISTEN UP HERE FOR ACTUAL ECONOMICS

Avoid modern crypto. Speculation makes money with TA but risks losing hard long-term.

summarize it in one word ffs

Thank you.

Two questions of interest are most notable, assuming that cryptocurrencies remain free of major bugs, vulnerabilities, and hash-power attacks into the foreseeable future. The energy cost, technical speed limit, and fees of each BTC transaction are also relevant issues, ...

The trade value of a currency without intrinsic value is overwhelmingly determined by the sellers of goods and services.

BTC has no government or normal businesses that anchor value through independently offered prices with long-term expectations.

Because most BTC transactions are filtered by its USD exchange rate, BTC does not even have room for price recovery through commodity arbitrage that normally stabilizes national fiat currencies.

Fundamentally, buyers need a good reason to choose BTC over other currencies accepted in the market.

For the average person, it just seems sensible to either stick with normal national currency or shift only to a government-backed cryptocurrency that offers stability and scalability in addition to the standard benefits of the blockchain.

What you're doing to this place isn't good, if based bust man is going to give me the question and the answer then maybe I can rely on him to do everything while I shoot some heroin haha. Shoo shoo back to the shadows with you.

this guy is knows his shit, well written piece.
goverment backed crypto is probably the end all end all, but whos to say we cant have a few more years of wild west style speculation.

I get it. You want these chaps to start thinking critically for themselves else reap the pain they sow.

But.

From time to time we need to set an example for em. What we're doing here doesn't work quite right if their meager funds are busted. Or perhaps you're right. Maybe they need to take a hard loss to hit a reality check and find long-term happiness. We'll play our respective sides, tentatively.

Can you recommend a few topics of critical importance for a total noob?

Bitcoin will back digital payments. Just as gold used to back paper money.

You won't need to send/receive Bitcoin every day. You are going to have clearing houses (similar to banks, Visa, Mastercard etc.)

When Bitcoin is no longer the central crypto to peg other cryptos value against (which everyone with half a brain knows will happen eventually if not before eoy) all your paragraphs simply turn to shit. Oh well this is a subtle nocoiner circlejerk thread anyways. Wank along.

W-who are you people...?

What about currencies backed by a platform/commodities?

You focused on the anonymity of transactions and left the non-sovereign part out. It will not be BTC, but there definitely is a need for a currency not tied to any political baggage. I mean just look at the mess Euro is in...

Shoo shoo based bust man. Back to the shadows. Let the young men go through thier right of passage. They Lobster needs to break free of its shell. Es Spurdo Vomnema