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> it will be replaced by something better at its primary function What is its primary function? I used to think it was supposed to be a currency, but it's fail
by The_Colonel 6y ago
> it will be replaced by something better at its primary function
What is its primary function? I used to think it was supposed to be a currency, but it's failing quite badly at that. But it keeps growing so what's the actual primary function?
- qertoip 6y agoStore of value. Resistant to inflation and hard to seize (if properly secured).
- The_Colonel 6y agoBitcoin does not seem like a safe long term value storage. Would you be willing to put your life savings in bitcoin for e.g. 30 years? I wouldn't and I would be surprised if many did.
- ru552 6y agoWhy does it have to be all or nothing? 10% to 15% of your portfolio is more reasonable. Adjust the percentage based on your bull/bear feeling towards the market.
- The_Colonel 6y agoThat sounds more like investment/speculation. I was speaking against this specific idea that bitcoin is (long term, stable) store of value.
- ur-whale 6y ago> What is its primary function? Inflation hedge. If you look at the amound of USD that has been issued in the last year alone, that's a fairly attractive proposition.
- noxer 6y agoIt actually means no ATH was reached. We just reached a higher number in dollar value. The actual goods you can buy with one bitcoin is still lower than at the peak in 2017. Obvious measuring form peak to peak is rather meaningless.
- ur-whale 6y agoCan't disagree with this. Measuring anything in USD is self-flagellation.