5 ms·
1) People are not using BTC because of fear of debasement. 2) Nobody is forcing you to hold large quantities of cash. In fact, very few people or institutions
by jariel 6y ago
1) People are not using BTC because of fear of debasement.
2) Nobody is forcing you to hold large quantities of cash. In fact, very few people or institutions do. Most portfolios are 90% 'other stuff'. Cash is for liquidity, it's never really been as a store of value. As a currency it works well.
- johnrgrace 6y agoAlmost no one is using BTC, you can barely by anything with it.
- offby37years 6y agoPeople are buying BTC to hedge against the coming wave of inflation. They're buying immunity.
- jariel 6y agoThen they're idiots. If they want to hedge against inflation they would be buying real estate, equities and commodities - not magical monopoly money.
- JohnJamesRambo 6y ago1. Yes they are. Why do you think Jack and Elon and Ray are so into it now? Everyone knows too much money has been printed and the rich see it first and want out. “The future is already here – it's just not evenly distributed.” The Economist, December 4, 2003 William Gibson 2. I’m holding as little cash as I can and trading it out for Bitcoin and Ethereum every chance I can get.
- jariel 6y agoThe entire silicon valley - and the very nature of BTC itself is a living testament to the ignorance of those supporting it. It is not really currency and it's the worst store of value imaginable. Literally ever kind of other normal long term asset would be better: stocks, bonds, real estate, commodities. " I’m holding as little cash as I can and trading it out for Bitcoin and Ethereum every chance I can get" This is exceedingly unwise. You may get rich, you may lose your shirt, probably something in between, but you're putting hard earned money into monopoly money controlled by a very small number of people who are either jerks or criminals and care nothing for the system.