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I'm fully aware of that, but there's many financial instruments to hedge against inflation. To that end, I'd sooner put my money into Rolex watches or sneakers
by incrudible 6y ago
I'm fully aware of that, but there's many financial instruments to hedge against inflation. To that end, I'd sooner put my money into Rolex watches or sneakers than cryptocurrency.
- adhoc32 6y agoFriendly advice, buy 20$ of Bitcoin to feel how it works before judging it. It might change your mind.
- incrudible 6y agoI do know how it feels, because I do hold some Bitcoin for "fun". Most of the time, it's down 80% from the previous high. Then it randomly appreciates 10x before cratering again. With any meaningful amount of money, that doesn't feel good at all. The purchasing power I might lose from a mere $20 is of course irrelevant. If I put it into Bitcoin it might turn into $100 or $200 at an off-chance, but that has nothing to do with inflation. Bitcoin just isn't that correlated with cash. If I wanted to make a $20 bet that the dollar inflates dramatically, I would buy an option to buy gold at $5000.