Posts

Choose wisely: Magic internet money (Crypto) or Monopoly money (Fiat)?

avatar of @onwugbenuvictor
25
@onwugbenuvictor
·
·
0 views
·
2 min read

Magic internet money (Crypto) is better than Monopoly money (Fiat)

The government, central banks, and other world players including the international monetary fund (IMF) have always hated Crypto also known as Magic internet money for being a better option or alternative to Fiat currencies also known as monopoly money that is controlled and manipulated by them as they want if they decided to go crazy and print more fiat currencies they can and no one will and can stop them from doing so, and the effect of them printing more money coupled with the high rise of inflation of goods and services all over the world is dangerous because it devalues the country's fiat currency and reduces its buying power, it can even make their buying power next to zero meaning the country's fiat currency will have no value.

You can ask Lebanonians whose currency the Lebanese pound has lost as much as 98% in value since late 2019, and now most restaurants and many stores are demanding to be paid in dollars because their country's fiat currency has lost its value, while the Magic internet money (Crypto) as the government likes to call it is thriving and gaining more ground and adoption is skyrocketing as this bank collapse crisis is happening and everyone is turning to crypto to keep their money safe.

Ironically the Magic internet money (Crypto) that the government said has no value or is not a good store of value is now the only credible store of value as banks are crashing from left, right, and center like someone triggered a landmine, I guess I have made my point clear that my choice between the Magic internet money (Crypto) and Monopoly money (Fiat) will always be Crypto for so many reasons which I will mention a few of them, it can not be controlled by the government, it is still standing while banks are going under, and yes the crypto market is in a bear market and has been dipping for a long time but we all know the notable coins with good utility and community will always recover fully can't say the same for banks.

PLEASE FOLLOW ME ON: Discord: onwugbenuvictor#3447 Twitter: @VictorOnwugbenu

Posted Using LeoFinance Beta