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Isn't this just the way the unregulated crypto market operates? Volatility like crazy? I think there were other seismic shifts (e.g. Bitcoin) with 50% losses f
by r00fus 5y ago
Isn't this just the way the unregulated crypto market operates? Volatility like crazy? I think there were other seismic shifts (e.g. Bitcoin) with 50% losses from peaks before.
- UncleOxidant 5y ago"bUt iT'S a sTaBLe SToRe oF vaLUe uNLiKe fiAT cURRenCY."
- rabuse 5y agoI always see this argument peddled, but I can't recall the notion in the earlier crypto days of it being a "stable store of value". We saw it as a means to bypass payment middlemen, such as PayPal.
- wbsss4412 5y agoJust because it wasn’t around in the early days doesn’t mean it isn’t relevant now. Bitcoin has thus far failed as a currency, so people have been pushing the “store of value” line for quite some time.
- jayd16 5y agoHappened as soon as someone decided to speculate on BTC, which was pretty early.
- lawn 5y agoBecause it wasn't there. It was only when Bitcoin could no longer function well for payments (due to the high fees), that bagholders changed the narrative from "medium of exchange" to "store of value".
- paxys 5y agoWhat percent of Bitcoin owners has made a single commercial transaction in Bitcoin? Or really done anything other than buy/sell it in a commercial brokerage account?
- r00fus 5y agoInstead you have other middlemen like Coinbase/Binanace who are unregulated and lose random wallets and stuff.
- delabay 5y agoNobody but you is making this claim
- dehrmann 5y agoI don't touch Bitcoin because I see it as a speculative collectible, not an investment, but there are plenty of regulated markets that are volatile.