So why people are rushing back to cash which is

Question

Monero XMR

fredo

So why people are rushing back to cash which is

inflating and devaluating like crazy? Seems stupid, what am i missing

#cryptocurrency #english #xmr

0

27.04.2022

9 ответов

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fredo Автор вопроса

I ment not only in the crypto, more on a macro, I wouldn’t be getting fiat at such an inflation rate, i would be worried. I have fiat but i d rather not sell my crypto even if it goes down, could be a mistake but i am more conforteable like that

0

27.04.2022

Chad

fredo
I ment not only in the crypto, more on a macro, I ...

The only reason I could see for reasonably selling at this time would be necessity to pay bills since most can't be paid in crypto Other than that, it may be that they don't actually believe in crypto nor want to free themselves from fiat

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27.04.2022

KRS ONE1

Dollar is easiest form of currency most people around the world can trade into while theirs is collapsing. Most currency is collapsing faster than the time it would take for them to learn about crypto .

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27.04.2022

Chad

KRS ONE1
Dollar is easiest form of currency most people aro...

I think he is talking, at least in part, about the US Dollar since its inflation is out hand... also wouldn't crypto be even more important to hold on to in such cases? Especially if you already had it (which is another thing he was talking about: all the selling which is driving the exchange rate down)? (note: I like the current down market, allows me to convert more over easier)

0

27.04.2022

fredo Автор вопроса

Chad
I think he is talking, at least in part, about the...

I am quiet surprised crypto isnt falling faster, i was expecting more downward move

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27.04.2022

KRS ONE1

Chad
I think he is talking, at least in part, about the...

All major govt currencies are fiat and tied to USD . As they are all in the same printing boat, the currency moves into the strongest one which now is USD. As to the drop of prices in crypto, it seems artificial . Marketcap of all crypto is down ~4% in last 3 months. BTC & ETH pretty much around the same price. Doesn’t seem to be any fundamental change for people who believe to be selling. Retail is gone so just traders moving around liquidity is my guess

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27.04.2022

Chad

KRS ONE1
All major govt currencies are fiat and tied to USD...

not entirely true, concerning the USD.... but that is entirely another issue wich is entirely artificial

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27.04.2022

KRS ONE1

Chad
not entirely true, concerning the USD.... but that...

Well US/EUR has most liquidity of all fiat. Over 70% of world trade occurs in USD so it is the strongest fiat at the moment . I’m sure the dropping of the last nukes has a strong part to play in it too

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27.04.2022

Chad · Accepted Answer

Chad

because most people currently in the cryptocurrency sphere are misusing and mischaracterizing it and are only in it for a quick buck.... they are also afraid of the gov't

0

27.04.2022

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