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> It’s a store of value A typical store of value doesn’t have annual 80% price swings. > Holding USD is a terrible idea Strongly disagree, the USD is still t

> It’s a store of value A typical store of value doesn’t have annual 80% price swings. > Holding USD is a terrible idea Strongly disagree, the USD is still the main flight to safety in the world. I don’t see that changing any time soon.

latchkey 6y ago
Have you looked at the swing in gold price in the last year?
- bluedevil2k 6y ago
  Gold prices in the last 100 years, adjusted for inflation. Gold isn't a great store of value either, this line would be flat if it was. https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart https://www.macrotrends.net/1333/historical-gold-prices-100-...
  - latchkey 6y ago
    Exactly. It is clear that most people don't look at that chart (one of my favorites).
alwillis 6y ago
Strongly disagree, the USD is still the main flight to safety in the world. I don’t see that changing any time soon. That was before a global pandemic and the printing of many trillions of dollars this year, with no end in sight. Why do you think Saylor [1] put his corporate treasury of $425 million into BTC? And then issued bonds to buy even more? Because keeping his company treasury in cash and cash equivalents would mean losing 5-20% each year, since interest rates are zero and inflation is increasing. [1] https://www.microstrategy.com/en/bitcoin https://www.microstrategy.com/en/bitcoin [2] "The Fraying of the US Global Currency Reserve System"—https://www.lynalden.com/fraying-petrodollar-system/ https://www.lynalden.com/fraying-petrodollar-system/
- bluedevil2k 6y ago
  Inflation is NOT increasing. It's around 1% right now, near historical lows. There's no way that cash will be losing 5-20% each year, that's crazy. Who cares what Saylor is doing, he's 1 guy who controls the purses of his company. Last I checked he's no financial wizard with a proven track record. He's just noteworthy because he's the only one doing it and he'll get burned badly if BTC drops back down to $4k. Like lose the company burned.
alwillis 6y ago
A typical store of value doesn’t have annual 80% price swings. Volatility is a thing but Bitcoin has outperformed every stock and commodity over the past 5 and 10 years. It can't be deflated or manipulated by central banks and governments.
- bluedevil2k 6y ago
  You're cherry picking the time periods to prove a point. Last year if I said "BTC is under-performing every asset class imaginable in the last 2 years" I would have been correct too.
  - deleted 6y ago
    [deleted]
pillop2 6y ago
Stores of value early in their lives have volatility that subsides eventually. Losing 50% of your USD savings every 5-10 years thanks to dollar debasement isn't a "flight to safety"

latchkey 6y ago

Have you looked at the swing in gold price in the last year?

bluedevil2k 6y ago
Gold prices in the last 100 years, adjusted for inflation. Gold isn't a great store of value either, this line would be flat if it was. https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart https://www.macrotrends.net/1333/historical-gold-prices-100-...
- latchkey 6y ago
  Exactly. It is clear that most people don't look at that chart (one of my favorites).

alwillis 6y ago

Strongly disagree, the USD is still the main flight to safety in the world. I don’t see that changing any time soon. That was before a global pandemic and the printing of many trillions of dollars this year, with no end in sight. Why do you think Saylor [1] put his corporate treasury of $425 million into BTC? And then issued bonds to buy even more? Because keeping his company treasury in cash and cash equivalents would mean losing 5-20% each year, since interest rates are zero and inflation is increasing. [1] https://www.microstrategy.com/en/bitcoin https://www.microstrategy.com/en/bitcoin [2] "The Fraying of the US Global Currency Reserve System"—https://www.lynalden.com/fraying-petrodollar-system/ https://www.lynalden.com/fraying-petrodollar-system/

bluedevil2k 6y ago
Inflation is NOT increasing. It's around 1% right now, near historical lows. There's no way that cash will be losing 5-20% each year, that's crazy. Who cares what Saylor is doing, he's 1 guy who controls the purses of his company. Last I checked he's no financial wizard with a proven track record. He's just noteworthy because he's the only one doing it and he'll get burned badly if BTC drops back down to $4k. Like lose the company burned.

alwillis 6y ago

A typical store of value doesn’t have annual 80% price swings. Volatility is a thing but Bitcoin has outperformed every stock and commodity over the past 5 and 10 years. It can't be deflated or manipulated by central banks and governments.

bluedevil2k 6y ago
You're cherry picking the time periods to prove a point. Last year if I said "BTC is under-performing every asset class imaginable in the last 2 years" I would have been correct too.
- deleted 6y ago
  [deleted]

pillop2 6y ago

Stores of value early in their lives have volatility that subsides eventually. Losing 50% of your USD savings every 5-10 years thanks to dollar debasement isn't a "flight to safety"