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> At that point there would be no point in hoarding bitcoin more than any other currency. Oh yes there is. Bitcoin is deflationary, so your money isn't debase
by Frogolocalypse 9y ago
> At that point there would be no point in hoarding bitcoin more than any other currency.
Oh yes there is. Bitcoin is deflationary, so your money isn't debased while you hold it. I don't ever intend to exchange my bitcoin for any other currency unless I'm purchasing something.
- UncleMeat 9y agoWhy not just hold bonds?
- Frogolocalypse 9y agoMy banking account can never be seized by a govenment, and I can liquidate them whenever I choose, wherever I choose. Indeed, I can buy a beer with my bitcoin at any time of my choosing.
- bduerst 9y agoThat's not really a threat vector that most people worry about.
- Frogolocalypse 9y agoMost people don't understand or appreciate risk, no.
- bduerst 9y agoOkay then. What's the probability of the government seizing your bank account?
- Frogolocalypse 9y agoHigh. https://en.wikipedia.org/wiki/Executive_Order_6102 https://en.wikipedia.org/wiki/Executive_Order_6102 https://en.wikipedia.org/wiki/Civil_forfeiture_in_the_United_States https://en.wikipedia.org/wiki/Civil_forfeiture_in_the_United... I think when bitcoin is measured in the multi-trillions, the temptation for the US government to raid american bitcoin exchanges will be too great. And they have form.
- bduerst 9y agoWhat is "high" probability? 80%? 70%?
- emodendroket 9y agoWhat's more, Bitcoin is subject to risks your bank account is not.