With the Euro tanking, world stock markets crashing, erasing $3T in retirement funds, global inflation, and entire nations going bankrupt...the G20 Financial Stability Buds are focused on global rules in October for...those risky cryptos
submitted 1 year ago by SoCo from (reuters.com)
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[–]Canbot 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - 1 year ago (0 children)
Unfortunately crypto relies on people buying it using fiat currency. It's value literally defined by the exchange rate. And that exchange rate is entirely controlled by the fiat currency holders who buy it. And the same people who own the fiat currencies and manipulate them also manipulate the cryptos. They are just as fake, but far more easily manipulated. A collapse of crypto does not collapse the economy. There are no consequences.
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[–]Canbot 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - (0 children)