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Bitcoins biggest threat may be the decriminalization of drugs, as that is the only use beyond hoarding "HODL"ing right now. This is such a tired and over used
by alwillis 6y ago
Bitcoins biggest threat may be the decriminalization of drugs, as that is the only use beyond hoarding "HODL"ing right now.
This is such a tired and over used trope.
How about being the best store of value humans currently have access to?
The world's reserve currency--the dollar--is being inflated by trillions and trillions of dollars, with no end in sight.
Savings accounts are paying essentially 0% interest; if you take inflation into account, people are losing money everyday they leave their money in these accounts. Countries in the EU have negative interest rates and it won't be too long before we have negative rates in the US.
Meanwhile, bitcoin is on its way to becoming a reserve asset and is being seen as a must-own asset by the best and brightest money managers and companies.
Bitcoin has been a lifeline in countries where the local currency has failed--like Syria, Venezuela, Argentina. It's allowed people to stay ahead of repressive regimes like in Hong Kong and Nigeria.
And it's going to allow people in the United States who's currency is being debased and where inflation is eating away at savings and retirement to have a fighting chance at being able to support themselves in the future.
You might want to understand how theft-by-inflation works [1].
Or how the dollar is gradually losing its status as the world reserve currency [2]. It's not going to be pretty.
[1] "Masters and Slaves of Money"—https://breedlove22.medium.com/masters-and-slaves-of-money-255ecc93404f https://breedlove22.medium.com/masters-and-slaves-of-money-2...
[2] "The Fraying of the US Global Currency Reserve System"—https://www.lynalden.com/fraying-petrodollar-system/ https://www.lynalden.com/fraying-petrodollar-system/