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All monetized assets like USD or gold are "speculative". I speculate that my dollar probably won't lose more than 10-20% of its value in the next year.
by wyager 5y ago
All monetized assets like USD or gold are "speculative". I speculate that my dollar probably won't lose more than 10-20% of its value in the next year.
- compiler-guy 5y agoThe value of the dollar has a floor in that the US government requires that you remit your taxes in dollars. Sure, the US could cease to exist, but that is far less likely than any scenario where bitcoin goes to zero.
- wyager 5y agoThe demand introduced by US tax obligations is a vanishingly small fraction of USD demand.
- ineptech 5y agoAnything that hasn't happened yet is "speculative" I guess, but in this context speculative means you bought it because you think you can sell it for more tomorrow, as opposed to buying it for its intrinsic value.
- wyager 5y agoRight, like USD, except replace "for more" with "not too much less".
- ineptech 5y agoAh, I think I see the misunderstanding now. I argued that cryptocurrency is only speculative, and hence unlike a currency which has other uses. I did not argue the inverse (that currency only has other uses, and is not speculative).