Among many things that affect crypto prices, these stand out recently: a. As parts of globe slide into recession, short-term speculators tend to sell. Affects Bitcoin but affects alts more. b. Recessions increase financial risks, causing moves into deeply safe Bitcoin & Monero.
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Replying to @NickSzabo4
Strongly disagree on defining Bitcoin and Monero as "deeply safe". Cryptocurrency as a whole is the contrary of safe, is the synonym of "high risk" and is what people in recessions tend to avoid, reverting their savings in good ol' gold (which is already on the rise)
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Replying to @santre76
Nick Szabo 🔑 Retweeted Nick Szabo 🔑
Nick Szabo 🔑 added,
Nick Szabo 🔑 @NickSzabo4
Shallow safety vs. deep safety:
Shallow: estimated from volatility, assumes nothing goes wrong at lower layers of the protocol stack
Deep: what happens to your assets upon underlying failures? e.g. how would your digitally centralized assets fare against sanctions or cyberwar?
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1:27 PM - 5 Sep 2019
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