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If you're willing to accept that Bitcoin is not viable as a currency, you can then embrace that it's a better store of value than fiat currencies because the mo
by Mc_Big_G 6y ago
If you're willing to accept that Bitcoin is not viable as a currency, you can then embrace that it's a better store of value than fiat currencies because the monetary policy is static and it is scarce. Bitcoin is digital gold, not a currency.
- danielmarkbruce 6y agoThere is some implication that the only alternatives are fiat currencies. Anyone in finance will tell you: "do not to hold a lot of cash as an asset or store of value". Buying real assets is the general advice.
- wizzwizz4 6y agoBitcoin is a deflationary currency with high barriers-to-transact (rendering it nearly useless as a currency), backed by consensus trust in two assumptions: • Enough people are burning enough electricity using enough computer processors that no one entity has control over enough computer power to become the majority burner of processing power. • That's the only way to violate the axioms of blockchain transactions. Assuming these two points, Bitcoin is a reasonably good “financial asset”, albeit one that's rendered GPUs almost impossible to buy and is rapidly becoming a major contributor to the anthropocentric climate change that's rendering our planet a harder place to not-die.