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Can you elaborate how the feds doing a massive correction helps BTC in particular? I thought it would be inversely proportional--as there is a shortage of cash
by pookeh 7y ago
Can you elaborate how the feds doing a massive correction helps BTC in particular? I thought it would be inversely proportional--as there is a shortage of cash as indicated by repo rates and the inability for fed to fix it, it will drive borrowers and lenders to alternative currencies, jacking up BTC.
- downrightmike 7y agoThe correction would do what we expect and drive up the value of BTC as people want it and those who already have a lot of it will use BTC to bolster their assets. Just like we are seeing with south america, where inflation is rampant, workers are turning to online work and getting paid in BTC. It makes sense that the fall of USD as fiat currency would drive further adoption of BTC which is relatively stable. Relatively because only so much can be made, but there are a lot of hodlers out there waiting for the next spike.