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Except when we're seeing what could be a global reserve currency. It will continue to appreciate in value. It won't go straight up at all times; there will be
by alwillis 6y ago
Except when we're seeing what could be a global reserve currency. It will continue to appreciate in value.
It won't go straight up at all times; there will be corrections.
But its price will be higher a year from now, also in 5 and 10 years from.
How much higher?
As fiat currencies collapse and central banks continue to print trillions of dollars, euros, etc., the value of bitcoin will continue to go up.
- LatteLazy 6y agoUm... Bitcoin IS a fiat currency. Its backed by nothing except demand, just like USD or EUR. Not one guarantees to exchange bitcoin for a fixed amount of gold or oil or grain. And even if you're right and bitcoin somehow becomes a global reserve currency, you still don't want to buy right after a price spike do you? Wait for one of the corrections you yourself forsee...
- alwillis 6y agoBest definition of bitcoin: Bitcoin is a non-sovereign, hard-capped supply, global, immutable, decentralized digital store of value. It’s an insurance policy against monetary and fiscal policy irresponsibility from central banks and governments globally.
- alwillis 6y agoBitcoin is a lot of things but a fiat currency isn’t one of them. Being a fiat currency requires it to be decreed for transactions, a unit account, etc. by a government or other sovereign entity. There’s no such entity behind bitcoin.