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Bitcoin has a supply inflation rate. It's inflation rate with respect to price over its history, which is what you're comparing with USD, is quite negative. Pe
by darawk 8y ago
Bitcoin has a supply inflation rate. It's inflation rate with respect to price over its history, which is what you're comparing with USD, is quite negative.
People have been predicting the collapse of Tether for several years now, and yet, it still trades nearly 1:1 with USD. Funny that the people who actually have skin in the game seem to disagree.
- SilasX 8y agoI wish I could upvote your first paragraph and downvote your second -- the latter is a fully general counterargument against the possibility of delusional bubbles, since, in most such cases, the people bidding up the bubble asset do have skin in the game.
- darawk 8y agoWell, of course you're correct. But the market is usually rational, and to the extent that it is not so, it generally corrects itself relatively quickly. Now, it is possible that this is one of those cases where that isn't happening, but we should require fairly strong evidence to believe that. That evidence has not been provided in this case.