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> Bitcoin is the greatest store of value ever conceived > Indians understand that fiat is a failure, Gold was better, and now Bitcoin will make both obsolete a
by SideburnsOfDoom 5y ago
> Bitcoin is the greatest store of value ever conceived
> Indians understand that fiat is a failure, Gold was better, and now Bitcoin will make both obsolete as a store of value.
This is propagandistic, hyped up drivel.
Utterances like this are a big part of why Cryptocurrency is hard to take seriously.
- drumhead 5y agoPeople will believe it because they've seen it go up thousands of percent in a decade, shaking off massive downturns to go even higher. That alone makes it look bullet proof even though its not. Whats going to burst the bubble? Government action to ban or curtail it use. At that point it illiquid nature and lack of intrinsic worth will become apparent.
- SideburnsOfDoom 5y ago> they've seen it go up thousands of percent in a decade True, and the relevant aphorism are: "If something cannot go on forever, it will stop" and "the markets can remain irrational longer than you can remain solvent". A problem seems to be the lack of legitimate investments with decent rates of return at present. So people turn to more speculative assets.
- dekervin 5y agoIf cryptocurrencies have a staying power, there is probably a market opportunity in providing a societal hedge against the ensuing meltdown.