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> A lot of why people bought cryptos is in hopes of massive deflation No. Bitcoin is not a get-rich-quick scheme, it's a not-get-poor-slowly scheme. It's mainl
by knocte 7y ago
> A lot of why people bought cryptos is in hopes of massive deflation
No. Bitcoin is not a get-rich-quick scheme, it's a not-get-poor-slowly scheme. It's mainly protection against inflation, not hope for massive deflation.
- ivalm 7y agoYou say this, but that's not what drives volume. Most crypto volume is on exchanges, not on the chain, and that's due to speculation.
- knocte 7y agoFinance in general is plagued of this too: most money movements are non-productive asset transfers (investing, buying/selling of businesses, ...; as opposed to salaries and individual end-user purchases). But you will always be able to pinpoint the baseline of bitcoin to its most useful feature: people avoiding the criminal monetary policies of their corrupted governments.