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> Only a fool is using most currencies as an investment, except perhaps as part of some hedging scheme. Only a fool uses a currency that's experienced 5000% de
by BoorishBears 4y ago
> Only a fool is using most currencies as an investment, except perhaps as part of some hedging scheme.
Only a fool uses a currency that's experienced 5000% deflation?
Bitcoin is a long failed currency, I can't believe there are people still trying to push that notion.
Volatility is one thing, but deflation to a nonsensical degree means that using it as a way to pay for goods and services is heavily discouraged because of things like... having your $20 pizza be worth $165,000 if you had just not bought it.
- landemva 4y agoI have used btc as a hedge against my government and the uncontrolled judicial system, and it has been phenomenally successful. Not everyone lives an upper-middle class existence with good rule of law.
- BoorishBears 4y agoSo you used bitcoin for speculation. You're making my point. It's not functioning as a currency anymore, it's an investment vehicle. It'd be like if Forex was the main way that dollars got moved.
- deleted 4y ago[deleted]