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If you're explicitly asking about USD vs. BTC, I'll definitely take USD, which has a strong history of stability. BTC certainly doesn't have that. Maybe BTC i
by brucephillips 9y ago
If you're explicitly asking about USD vs. BTC, I'll definitely take USD, which has a strong history of stability. BTC certainly doesn't have that. Maybe BTC is going to appreciate or stabilize for the next century, but why would I risk that?
- lifty 9y agoBut consider the hypothetical scenario, where you have two currencies that have been around for the same amount of time, with similar reputations. One is inflationary and one is deflationary. Which one would you choose to save your wealth in?
- brucephillips 9y agoObviously deflationary. What's your point?
- lifty 9y agoI was alluding to your comment regarding price history and track record. People put their money in bitcoin (and other assets) based on future expectations. It's very risky now because we don't know if it will deliver on it's potential, but it definitely has some attractive features.
- emodendroket 9y agoLike several other people in this discussion, you point to the deflationary nature of Bitcoin as a positive. I do not doubt Bitcoin would be deflationary if widely used, but what I do doubt is that an economy that converted to a deflationary form of currency would be anything other than miserable for most people.