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Huh? The volitility of Bitcoin is on a completely different timescale than the rate at which the Fed acts. The Fed may be relevant for the store-of-value role
by jessriedel 9y ago
Huh? The volitility of Bitcoin is on a completely different timescale than the rate at which the Fed acts. The Fed may be relevant for the store-of-value role of USD, but the top commenter asked about medium of exchange.
- Jedi72 9y agoWould you get paid in Bitcoin knowing it could be worth 20% less (or more I guess) in real terms on any given day that your company happens to do payrole?
- jessriedel 9y agoYou've misunderstood my comment. I'm not arguing against the idea that Bitcoin is a poor medium of exchange, I'm arguing against the idea that the sort of actions taken by the Fed would help. Rather, the Fed acts on a much longer timescale which are relevant for store-of-value roles.