"If you live in any modern advanced economy I would stick with the dollar I would stick with the yen and leave bitcoin for the, you know, toy collectors," Minneapolis Fed President Neel Kashkari says.
"I don't really think of bitcoin as a currency. I think of it as a novelty. The idea that these virtual currencies are ever going to compete with the dollar is hard to fathom," Kashkari says.
Veeky Forums BLOWN THE FUCK OUT
Landon Flores
Liam Fisher
of course pajeet says that, he is very butthurt about racists* getting rich
*white people
Nolan Long
He has a point, the underlying value of crypto comes from the usd etc without real currencies these 'toy collector' currencies would have no underlying value.
Bentley Campbell
Their value comes from their nature and potential as a currency
The fact they are converted into fiat now is because the infrastructure to spend it for goods and services is in its infancy
Daniel Bennett
fiat and crypto will coexist for a while, fuck knows what'll happen in like 20 years or more though
Ayden Rodriguez
He's brown who cares
Alexander Cook
exactly, all first worlders have done playing around with bitcoin was fuck over third worlders who literally couldn't get banking services. He's got a point. Using crypto to buy stuff is retarded and it really shows the average intelligence of reddit that that's the thing that excites them the most (see XRB and on a slightly different note, Ripple [banks sending money around]).
This doesn't apply to utility tokens, but then again they have yet to prove their actual utility.
Gabriel Russell
>MFW more fud=more moon
Angel Nelson
what a falconesque gentelman
Wyatt Sullivan
>listening to pajeets as if they were real people
Gabriel Watson
Another rich bitch throwing tantrum cause people getting money
Nathan Perry
The funny thing is, these people talking down BTC are the same ones that never said a word about the housing bubble, the obvious impending financial crisis etc.
And people still listen to them after getting ripped time and time over again.
Really weird, I can't really fathom that.
Ryan Rodriguez
This guy legit looks like a supervillain
Asher Bailey
they have no potential as a currency
they're too volatile
Matthew Brown
>pls buy my dollarbags
James Edwards
>toy collectors
hahahahahahahaha Veeky Forums BTFO
Noah Jackson
"the internet has no potential, it will never scale"
Ian Brooks
they are in the growing pains of adoption
when things settle in a few years and these types of highs and lows level out, the infrastructure will be there
Joseph Butler
This only makes me believe more in a crypto dominated future. These kinds of schmucks are always shitting on technological advancement of society until the get reality shoved up their asses.
Ethan Hall
> Kashkari
Now at least shitters with names like that are still sitting in camps here in europe.
Wyatt Ramirez
>fuck knows what'll happen in like 20 years or more though
wait until they realize they have the perfect medium for electronic tracking of the cattle's money movements. they will create their own trackable coin, shill it as private, and sell it to the government as the national currency.
Michael Murphy
>toy collectors
sbs.com.au
>Ironically, back in 1995, Maron wasn’t a fan of the internet, dismissing its potential during the stand-up set below. “It’s all hype. I’ve been on the internet, there’s 12 people on there," he yells. "Computers are toys, not tools.”
Lel
Jack Wilson
>he thinks the Yen will get stronger
hillarious. the bank of japan isnt doing shit
Asher Scott
An article on the future of technology and they quote an unknown "comedian" and a Newsweak writer who was using the very networks he was dismissing without even realizing it. I guarantee you in 1995 that Newsweek was utilizing computer networks. They showcased idiots on the future of the Internet.
This guy at the fed, people investing in crypto are utilizing less fiat, which is his purview. Of course he's going to dismiss crypto.
William Thomas
no one said it was going to be easy turning all these stones, especially when its as big as his fucking forehead
Blake Sanchez
I’ve actually asked him about crypto currency in person. He’s pretty conservative and believed it’s only good for funding illegal purchases
Carson Hernandez
Stoll wasn't just some writer, he actually had extensive experience with cyber security. He's an expert in the field and yet he had no foresight about what the internet would become in the future when he wrote that article.
youtube.com
What I'm trying to say, is that the naysayers trying to shit on crypto today are either fools (no matter their credentials) or are lying to you for their own gain. Crypto is the future.
Aiden Scott
nice false equivalence
Sebastian Butler
>What I'm trying to say, is that the naysayers trying to shit on crypto today are either fools (no matter their credentials) or are lying to you for their own gain. Crypto is the future.
Yeah, I agree. As for Stoll, I used to work for a small computer repair shop. We had one client, a programmer for some big company in the RTP in NC. He was lucky to get his computer to turn on. He knew one sequence to start his telnet to his company, and if for some reason it didn't work, he had no clue how to use a different client or download one.
Aaron Russell
why would they level out, aside from it being convenient for you?
Brody Lee
>Veeky Forums BLOWN THE FUCK OUT
First of all. Let's get one thing straight. I don't own a single Bitcoin or any other cryptocurrency. Believe it or not, but a couple of years ago nobody was talking about crypto on Veeky Forums. Veeky Forums does not equal crypto. The fact that Veeky Forums haven't created a crypto section is retarded because the crypto horde have pushed out all other subject matters from Veeky Forums.
Regarding this gentleman's comment I think it should be viewed primarily as a policy statement rather than an honest analysis.
Truth is that crypto have already taken over the online drug trade, and given current development it wouldn't surprise me if a majority of all drug trade will be paid for with crypto in the future. Especially considering that authorities the world over wants to ban cash and replace it with a traceable "digital cash" it's hard to not see crypto survive into the future with such a development.
Dominic Scott
Crypto is backed by the “full disdain and animosity” of the U.S. Government