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Has your local currency been so awful at storing value that it lost more than 75% of its value in a little over a year? In Venezuela you’re probably better off

• nybble41 8y ago
  Bitcoin did not lose "more than 75% of its value in a little over a year". You're conveniently picking the peak price during a short-lived bubble as the baseline for your comparison, as if $20k were the normal price. No one with any sense purchased significant amounts of Bitcoin at that price. (Obviously quite a few people did buy at that price—but that's not the point. Buying after a sharp rise in the price is a losing strategy for almost any investment.) I could just as easily draw your attention to the fact that even now Bitcoin has nearly tripled in value (+190%) over the last two years. Right before the run up to $20k Bitcoin was around $6k; now it's at $3700. That's only a loss of 40%, not 75%, if you bought at the pre-bubble price. And it reached $3700 for the first time only about a year and a half ago, in July of 2017. It's hardly the only investment to show no net gain (or loss) over that time period.