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> I like Bitcoin for storing value against inflation, but its not a great currency. Why? A right-leaning (wing?) Canadian politician, Pierre Poilievre, said c

> I like Bitcoin for storing value against inflation, but its not a great currency. Why? A right-leaning (wing?) Canadian politician, Pierre Poilievre, said crptocurrencies would be to 'opt out of inflation' about a year ago. Meanwhile: > The number of bitcoins needed to pay for shawarmas, groceries, gas, and housing is up 73.1 per cent compared with 5.2 per cent annual inflation measured in Canadian dollars. * https://www.hilltimes.com/story/2023/03/29/poilievres-over-inflated-bitcoin-promises/382917/ https://www.hilltimes.com/story/2023/03/29/poilievres-over-i... * https://archive.is/6Ab4T https://archive.is/6Ab4T Cryptocurrencies are way more unstable than any fiat currency (at least of developed nations).

hospitalJail 3y ago
>> I like Bitcoin for storing value against inflation, but its not a great currency. >Why > The number of bitcoins needed to pay for shawarmas, groceries, gas, and housing is up 73.1 per cent compared with 5.2 per cent annual inflation measured in Canadian dollars. So its not a good currency, but its a good store of value. No Bitcoin holder is gauging the value in segments of 1 year.
- throw0101b 3y ago
  > So its not a good currency, but its a good store of value. How is it a good store of value? > No Bitcoin holder is gauging the value in segments of 1 year. If it cannot hold its value for one year, I have little faith that it can hold its value for more than one year.