Conversation

Preston Pysh
@PrestonPysh
That's why the gov. is now doing direct deposits to citizens. It's got the fancy name, universal basic income (UBI). But don't let the name fool you - they are out of options. They MUST get cash into the hands of the citizens or else further civil unrest will continue
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Preston Pysh
@PrestonPysh
to spiral out of control. A majority of people don't have enough money to even pay for their basic needs any more. Long term, UBI has it's problems just like QE (asset purchases) has. But make no mistake about it, the engine is out of oil. They have to print, and they have
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Preston Pysh
@PrestonPysh
get the money into the general population where it's needed most. All of this is why I own Bitcoin. Everything that's being done is a short term fix to an unstoppable spiral of fiat printing doom. The people peacefully protesting on the streets have every right to be disgusted
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Preston Pysh
@PrestonPysh
by the 1st degree murder of George Floyd. But I think it's even bigger and deeper than that. I think the African America community (which I love dearly) are outraged because the financial system also feels rigged. And based on everything I wrote above, it is!
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Mark Cuban
@mcuban
You got a lot right , up until the btc part. Under an al btc system how does the inflation of btc from supply and demand impact those without assets and those trying to acquire btc ? How will markets be made for goods and services ? How fractionalized can btc become ?
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Preston Pysh
@PrestonPysh
Mark, I appreciate you taking the time to read the post. The great thing about a market is the price will decide who's right & wrong. When the BTC price passes through the previous all time high of $20,000 USD by the end of January 2021 (241 days from now), I'll answer your call
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Preston Pysh
@PrestonPysh
Mark's got a million questions and he doesn't even know that Bitcoin is divisible. This isn't the first time I've tried to educate him. It's becoming a waste of my time. He'll come around when he's suppose to come around - the price will likely demonstrate that to him.
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Mark Cuban
@mcuban
Of course I know it is divisible. But that changes nothing. Someone has to want to fractionalize their holdings and the whales have to be willing to part with it. And it's at risk of sovereign ownership trying to influence the market because it's global
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