Hello, you may know about a coin called United States Dollar (USD), my friend is deep balls in it, it is the only coin that he have ever invested in his live, and have good adoption, but i think that he was scammed:
- Most coins like Bitcoin have limited supply and fixed mint of coins that decreases as time passes, but USD looks like that have a unlimited supply, they increased the supply in 40% since the last year, and since 2009 it lost 24% of the value, 100 USD from 2009 have the same value as 124 USD from today, the coins of my friend just loses value.
- It just goes down drastically against the major currency, Bitcoin, in the start of January of 2011, with 1 dollar you could buy 3 Bitcoins, and in the start of January of this year 1 dollar could buy about 0,00003 Bitcoin, and today is even worse, 1 dollar can buy only about 0,000018 Bitcoin.
- The network is very centralized, just one entity called "central bank" create new coins, and other entity called "federal reserve" control the supply, and you need to trust in large corporations called banks, that have the custody of your coins.
- It is very used to do crimes and money laudering, like basically 90% of all criminal activities and money laudering in USA are done with USD, much more used than others coins like Bitcoin and Monero, this might be very dangerous.
What do you think? What i do for my friend stop investing in this shitcoin?
Submitted April 07, 2021 at 02:21PM by Nerd_mister https://ift.tt/2Q1UuRa https://ift.tt/2Z7cX2s
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