The comment is still valid, I think. You can't really trust crypto to hold its value in any way that a currency should. To use cryptocurrencies you need to tolerate anything from a 50% drop to a doubling, all in extremely short time scales. If that's what trust means to you, that's interesting.
Compared to 2009?! You don't trust Coinbase in 2021 any more than you did Cryptsy in 2013?
PS if you want to do the whole "volatile prices!" fear mongering you can do WAY better than 50% price drops. You also accidentally criticize the US dollar here, USD saw a 30% decline in the early 2000s and analysts predict a possible decline of 30-35% in the broad dollar index soon. Is that how a currency "should" hold its value?
I don't trust it now, and wouldn't have in 2009 either.
I trust the US dollar because it is very stable. There's a crisis now because we're looking at roughly 5% year-over-year inflation compared to a goal of 2% -- meanwhile crypto swings 10% every damn day!
The dollar crashed 30% in the 2000s (and the 80s, and the 70s, and probably the '10s). Soon it will be because of trade wars and losing value to the euro and the yuan though.
To your point, remember when the crypto market had a net loss of almost 3000 points in a single day in March 2020?! Oh wait, that was the Dow, sorry.
So you don't trust the stock market or the assets that back it either, do you? It swings 10% or more some days!
Oh you just said "crypto," you never mentioned a currency. Do we get to include the overcollateralized stablecoins or are we just cherrypicking volatile ones?
Do you have any experience buying or using cryptocurrency in the last 10 years?
