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Haven't I said? Inflation. Have you checked house prices or asset prices lately in terms of the balance sheet of the FED? Bitcoin is the only asset which gave
by foreach32 6y ago
Haven't I said? Inflation. Have you checked house prices or asset prices lately in terms of the balance sheet of the FED?
Bitcoin is the only asset which gave you a real return in the last, maybe 10 years. Even if indexed the NASDAQ or whatever, your real return was probably below 0.
You can copy paste a lot of definitions, that's great. Just tell me how your returns were and how you measure them. If you measure them in Dollars, then show me what your money buys you now versus what it bought you 10 years ago.
You can say I am hedging against the devaluation of FIAT currencies.
- dcminter 6y agoThe point is that that isn't what "hedging" means. If all your wealth is in one thing then you take on all of the risk with that thing. Property, fiat money, diamonds, cryptocurrency, whatever. How big a risk you perceive that to be is irrelevant. The "debates" on HN about crypto always devolve into the pro and anti factions talking past each other which is very dull. A little linguistic confusion makes a nice change.
- taurath 6y agoYou mean you are betting everything you own that FIAT currencies will be devalued relative to your crypto currencies.
- foreach32 6y agoIt's a bet which proofed itself right for the last 3 years. And I bet it will go on for a little longer, yes!