Is Bitcoin the new reserve money of the world?

**vieirarodrigo** · 18 December 2021, 1:46 pm

No luck getting bitcoin at first. But I started now.

**Chris** · 19 December 2021, 12:07 am

Nope. Most likely, the IMF will replace USD and the other failing fiat currencies in the currency basket with their own CBDCs (central bank digital currencies) powered by the Ripple Foundation's blockchain technology. It is very likely that we will see gold and other precious metals in the basket as well once the great financial reset is complete. Bitcoin is not ideal as there is so much unaccounted for and is decentralized. To be a desirable reserve currency the IMF would need the maximum amount of control and the ability to freeze accounts and do all the other evil things that inspired the creation of Bitcoin in the first place. I am not sure yet how big of a part XRP will play in this. It very well may end up being the multinational settlement coin. Or not. Only the top brass at the IMF and Ripple Foundation could answer that.

**Sherlock** · 19 December 2021, 8:25 am

XRP? It still does exist?

It is fascinating how there are > 10K of shtcoins and >10K gangs of people with their hopes and their incredible mental roundabouts, how just that coin that they are bagholding, will be THE ONE.

XRP used to be a thing 4 years ago, shortly before ICO was athing. CBDC was in between, when Facebook had his 5 minutes of fame with Libra. Now we are coming to late NFC era and IDO is here.

The ratio: (things that are really done / collective hopium) can not be closer to zero.

I feel 2022 can be a good year to buy Bitcoin. Because if this shtcoin house of cards falls down then it will drag BTC along. To some very low price. All that is needed for that are major central banks raising interest rates just a bit.

So I expect in 2022 to lose 80% of my networth.

**chaumi** · 19 December 2021, 9:04 am

Originally Posted by Sherlock

I feel 2022 can be a good year to buy Bitcoin. Because if this shtcoin house of cards falls down then it will drag BTC along. To some very low price. All that is needed for that are major central banks raising interest rates just a bit.

So I expect in 2022 to lose 80% of my networth.

Now if that isn't an as 'reliable as you'll get' suggestion to dump all you've got (assuming you were late in) and then buy back (ideally at the perfect time!!), I don't know what is.

**Sherlock** · 19 December 2021, 9:13 am

In fact it is exactly the opposite. HODL is HODL.

I am watching a tree right now.
Windy weather here.
The branches move up. The branches move down.
Why should I care? I (try to) enjoy the beauty.
We will all die in a few seconds.

**chaumi** · 19 December 2021, 9:39 am

Originally Posted by Sherlock

In fact it is exactly the opposite. HODL is HODL.

I get that, but debatably not so applicable to buyers at $50-70k or whatever. The logical guess at the moment seems to be that out (and back in) is the most sensible path. Personally I'm a hardened gambler, no chance of that. What happens, happens.

I am watching a tree right now.
Windy weather here.
The branches move up. The branches move down.
Why should I care? I (try to) enjoy the beauty.
We will all die in a few seconds.

....and agreed. None of it matters when compared to what's really important..

**Sherlock** · 19 December 2021, 10:27 am

I get that, but debatably not so applicable to buyers at $50-70k or whatever. The logical guess at the moment seems to be that out (and back in) is the most sensible path. Personally I'm a hardened gambler, no chance of that. What happens, happens.

Crypto felt as a vehicle to get rich was just a collateral damage. Bitcoin is a wealth preservation vehicle.

But I take as slight nuisance to constantly hear what other people think that is logical to do with my money, when obviously my track record which is just passive hodling was proven as the best strategy. Maybe simply there is a flaw in your logic. It is very simple: look at your crypto record and wallet and see how much is there.

Gamblers have a saying: "Only what is on your betting slip counts. Everything else is just an useless theory."

Just buy BTC or any shtcoin. Hodl it or trade it. Keep it at the exchange. Stake it in defi. Or put it in your wallet. And see. There will be certainly some result and that is the only important thing.

If you are a hardened gambler, you must know that there is a big difference between just watching numbers / other gamblers and between having action.

I said that I am prepared to lose big portion of what I have in 2022. That can be said also in other words: I think that there is a big probability that I will lose. But that is a definition of the life of gambler. Successful gamblers (and I was successful in the past, so I do not know whether it will repeat) are the ones who bet on high odds, so they keep losing all the time. It is normal for a winning gambler to NOT avoid the most probable scenario.

Losing gamblers are the one who are trying to avoid the loses. They bet on low odds. They try not to lose at all costs. They bet on Manchester City at home. They sell when market goes down. They are so sure with their "strategy" that they are not able to look around them for whole their life. That is why they lose in long term.

But this is just hopefully obvious gambling theory. Irrelevant. Either take action or not. This thread will age very well in 5 - 10 years.

**chaumi** · 19 December 2021, 11:21 am

Originally Posted by Sherlock

But I take as slight nuisance to constantly hear what other people think that is logical to do with my money

I think my communication was poor. In no way would i be presumptuous enough to suggest what anyone else does, it was more a musing thought around my own holdings. Yes, it was poorly communicated.

Was watching my 160-1 shot running around Kempton at the time. Attention was diverted. Last...maybe even still running. But there will be another day!

**Sherlock** · 19 December 2021, 11:37 am

No, it was not poorly diverted. Your communication is as humble as it can be. Still any communication is simply affecting the others. That is the bitter truth of social networks. I really did not want you to apologise.

I wanted you to understand that it is impossible to understand the other people. We simply have too wide gaps in between. What is possible is a personal experience. HODL and BTC are two outcomes of prisoners dilemma of cryptoworld. It just sounds cool to write/read it like that, but it is possible to feel it, having substantial skin in the game.

It is really not possible to write anything really intelligent about crypto. So we all must read the pile of poo from irrelevant altcoin fans. Forever.

**Chris** · 19 December 2021, 8:40 pm

I am not a fan of XRP by any means. Most of the crypto community feels the same. I'm not sure where you get your information from but I get mine from the horses mouth. You are also confusing Ripple with XRP. Ripple created XRP but they also have been working on settlement blockchain tech with many foreign and central banks and the IMF for the past 4 years. The information. is available on the IMF website. It is in the form of a PDF otherwise I would post it here. It is irresponsible to download PDFs from random people on a forum, such as myself, but if you type into any search engine, "IMF Ripple" you will find the information. Ripple is not old news. I hate to break it to you. Its path goes against true crypto ideology but that is why it is being used by several banks and the IMF. Because they can control it centrally.

**Sherlock** · 19 December 2021, 9:45 pm

They are trying to sell this IMF/cb/cbdc nonsense since XRP used to be Ripple. Maybe they renamed themselves. I really do not care whether something that had name like Ripple is rebranding. That is their marketing game, not mine. I have account at Ripple forum since month 1 and by the time it was called Ripple. So I call it like that. As I call ecash BCHA etc.

Also I am a macroeconomist. Nobody at IMF is taking Ripple (or crypto) seriously. IMF is just sitting on their asses and they will do it as long as it will work somehow just as any other organisation.

Even my bankers are now jumping on more fancy altcoins than XRP and they think that future of interbank settlements is in stablecoins (not that I agree with them).

I do not know why should I google random strings like "IMF ripple". I can google "horse head full of sandy stones inside of anus" and I will certainly find something as well. (For the record, I did it, I probably found the obsolete pdf from 2018, that is the base for some wishful thinking of XRP fanboys. Just an old leaflet uploaded to the server of retards from IMF.)

I agree that XRP has nothing to do with BTC and goes totally against the idea of decentralization. Therefore the shilling of XRP in a thread about bitcoin is pretty annoying.

**okcado** · 8 October 2022, 9:55 pm

There are 2 options:
- Bitcoin will be a new currency of the world and asset to store the value.
- Bitcoin will be 0 and has no value

But I think the option 1 is more practical

**Sherlock** · 29 January 2023, 7:53 pm

Bottom confirmed. Useless posts are here, now even with useless links.

Regardless of that I am really, really allergic to all posts that say people do this or people do that. Yes, people are scratching their scrotches. Is it important? No. Especially because majority is usually wrong.

But that is not the point why I am nauseating while reading about what other people do. It is a 100% sign that the writer has nothing to say. There is no need for argumentation when one is writing what other people are doing. In fact one is always writing about what other people are writing about other people - which technically might be true, but still it is a picture of useless echo chanber.

**Strider1973** · 30 January 2023, 12:40 am

Originally Posted by Sherlock

Bottom confirmed. Useless posts are here, now even with useless links.

Yes, looks like ChatGPT wrote the post and the user tried to hide a link in the last sentence. Please ban this guy "Bishop".

**jaykay92** · 30 January 2023, 3:39 am

Call me stupid, but how can cryptocurrency exist when people are calling for more regulation to be put in place? Doesn't that kill the whole idea of cryptocurrency?

**outreach_nätcasino** · 31 January 2023, 2:42 am

Well that is why ETH I wouldn't touch with a 10 feet pole. It is heavily regulated - by the US..... at least Bitcoin is the most decentralized crypto at the time being which is now one of the reasons for the latest +40% rise YTD

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