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You are comparing currency (dollar) against assets (gold.). You are complaining that a currency is acting like a currency (inflationary) and not an asset (relat
by esens 5y ago
You are comparing currency (dollar) against assets (gold.). You are complaining that a currency is acting like a currency (inflationary) and not an asset (relatively resistant to inflation.)
I am so confused by this argument.
I think you are right though that Bitcoin isn't acting like a currency, it is acting like an asset. Although it is highly speculative, more so that gold, as evidenced by its wild swings.
Bitcoin is a crypto-asset, not a crypto-currency.
- lowkey 5y ago> You are complaining that a currency is acting like a currency (inflationary) I challenge the assumption that a currency is naturally inflationary in nature. Though it is very tempting to politicians to print money and debase the currency if they can get away with it, there is no inherent law of currencies that makes them inflationary. In fact, throughout hostory the only way fiat currencies could be inflated was through debasement. Bitcoin has a fixed supply and cannot be debased but those properties do not make it less of a currency.