> We only care about the value as measured by other things - that is, the purchasing power. You just contradicted yourself, then. > Well, the purchasing power

> We only care about the value as measured by other things - that is, the purchasing power. You just contradicted yourself, then. > Well, the purchasing power of Bitcoin tanked over the last year. It didn't. The purchasing power relative to other currencies did. If your goal is to just use Bitcoin as a way to make more dollars, then sure, you lost something. If your goal (like my own) is to store your wealth in a way that can't be manipulated or confiscated, then you didn't lose any purchasing power. It's an abstract argument and I understand exactly the point you're making, but ultimately, Bitcoin's inherent value is unchanged (1 Bitcoin = 100,000,000 Satoshi).