I am no economist. My dad let me invest a couple dollars once. I made a few more, and then promptly lost it because I was impatient. I don’t think it needs to be said that I don’t know much about cryptocurrency.
The same could be said for most of the delegates of the International Monetary Fund. Israel tried to throw around jargon like pump and dump, and the US decided to take after their president and make up words, declaring that cryptocurrencies were “not indurably backed up”. However, exactly how well the delegates understood cryptocurrency became clear when there was a ten-minute moderated caucus, followed by a ten-minute extension, about exactly how anonymous bitcoin was. Three minutes into the first caucus, Italy gave a very thorough speech about how cryptocurrency was “pseudoanonymous”, followed by very technical aspects about exactly what traces were left by bitcoin. After that, each delegate who went up began with “The question is not about whether or not cryptocurrency is anonymous”, and promptly continued to argue about whether or not cryptocurrency was anonymous.
Aside from anonymity, there were consistent remarks about how volatile cryptocurrency was. This quickly became repetitive, because everyone knows how quickly the value of bitcoin changes. If I had a dollar in bitcoin every time I heard in the news about the volatility of cryptocurrency, I’d have two dollars and sixty cents in bitcoin every time I heard in the news about the volatility of bitcoin.
Some delegates, however, were actually able to make some poignant points about cryptocurrency. Canada, for example, pointed out that replacing all currencies with cryptocurrency would not be feasible. However, Canada explained that cryptocurrency would be beneficial if it replaced individual currencies on a case by case basis, asserting that “for more developed countries, being able to control inflation with their own monetary policy is important, especially if their current monetary policy is working well for them. However, less developed countries tend to keep making printing money to keep up with debts, which is unsustainable. In those cases, it makes more sense for these countries to adopt cryptocurrency.”
But despite a handful of relevant points, the true nature of the committee becomes obvious when the most assertive statement made by any delegate was when Japan declared that, “Israel is a try hard. He’s just salty that he’s not recognized as Palestine."
The same could be said for most of the delegates of the International Monetary Fund. Israel tried to throw around jargon like pump and dump, and the US decided to take after their president and make up words, declaring that cryptocurrencies were “not indurably backed up”. However, exactly how well the delegates understood cryptocurrency became clear when there was a ten-minute moderated caucus, followed by a ten-minute extension, about exactly how anonymous bitcoin was. Three minutes into the first caucus, Italy gave a very thorough speech about how cryptocurrency was “pseudoanonymous”, followed by very technical aspects about exactly what traces were left by bitcoin. After that, each delegate who went up began with “The question is not about whether or not cryptocurrency is anonymous”, and promptly continued to argue about whether or not cryptocurrency was anonymous.
Aside from anonymity, there were consistent remarks about how volatile cryptocurrency was. This quickly became repetitive, because everyone knows how quickly the value of bitcoin changes. If I had a dollar in bitcoin every time I heard in the news about the volatility of cryptocurrency, I’d have two dollars and sixty cents in bitcoin every time I heard in the news about the volatility of bitcoin.
Some delegates, however, were actually able to make some poignant points about cryptocurrency. Canada, for example, pointed out that replacing all currencies with cryptocurrency would not be feasible. However, Canada explained that cryptocurrency would be beneficial if it replaced individual currencies on a case by case basis, asserting that “for more developed countries, being able to control inflation with their own monetary policy is important, especially if their current monetary policy is working well for them. However, less developed countries tend to keep making printing money to keep up with debts, which is unsustainable. In those cases, it makes more sense for these countries to adopt cryptocurrency.”
But despite a handful of relevant points, the true nature of the committee becomes obvious when the most assertive statement made by any delegate was when Japan declared that, “Israel is a try hard. He’s just salty that he’s not recognized as Palestine."