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No interest in reading the article, but I'm curious who still thinks an asset that can experience a 27% drawdown in 3 days is usable as either a store of value
by 01100011 4y ago
No interest in reading the article, but I'm curious who still thinks an asset that can experience a 27% drawdown in 3 days is usable as either a store of value or as a currency?
- cowtools 4y agoHistorically many fiat currencies have been dramatically debased, for example the german papiermark or the zimbabwean dollar. Currencies fluctuate. Currencies that are not backed by sound business relationships fluctuate more. But if it facilitates trade, it's a currency. As for a store-of-value? I don't know. I think it's clear that the cryptocurrency market is chiefly driven by speculation in its current state, and this strongly perturbs the nature of cryptocurrency in a strange way. But I think it is more interesting to discuss what happens at some equilibrium state as t -> inf.
- tim333 4y agoI plan to buy some if it drops below $15k or so as I think it will be basically up from there, maybe hitting 200k in 2025. It can hold value if you do it right.