The CWAL Rubber Room
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Hey, you guys seem pretty knowledgeable about finance, anyone want to weigh in on cryptocurrency?
Posted by Dorg from 67.185.251.*, on March 13, 12018 at 15:10:53:

I've been trying to learn about the forex and stock markets in order to improve my crappy cryptocurrency trading bot until it can make enough money to comfortably live off it. (So far, it's barely making enough profit to cover my $600 rent and an occasional plate of discount sushi.. seems OK, until you consider that I've spent like 160 hours developing it and I could have easily earned $100/hour with the same skills, haha)

Anyway, the more I learn about how the economy works, the more stupid and pointless these decentralized currencies seem. Even if you overlook all the technical challenges and the wild swings in value, just the fact that they're all deflationary would apparently make them untenable for taking out loans or paying salaries

As I understand it In a deflationary period, money is becoming more valuable over time, which means that goods are going down in price along with pay.. the problem is that the way pay goes down tends to consist of laying people off or giving people shittier jobs than they could have done, and it really sucks to have your mortgage get bigger every year because of deflation. Un/under-employment combined with mortgage failures then proceed to fuck up the whole economy

Anyway, am I missing something, or does that sound accurate?? Basically it sounds like a semi-well-managed fiat currency (even under the management of a garbage-jerk like Reagan or Trump) is way better for everyone than a deflationary decentralized cryptocurrency


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