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> pay directly for some products and services as long as the other party will accept it. You can but generally you don't want to. Besides the technical issues

by qwytw 3y ago

> pay directly for some products and services as long as the other party will accept it. You can but generally you don't want to. Besides the technical issues it's a very volatile asset which means that you don't want to hold it for any extended period of time (IF you're only using it to pay for stuff).

JustinGoldberg9 3y ago
I pay for things with dollars. I keep some cash available at all times. I had to buy a car last year, so I sold some Bitcoin, paid tax on its capital gain, and so I effectively paid less for it, as I held Bitcoin from roughly 20k to 30k. There will always be more volatility to the upside
- qwytw 3y ago
  Which is great from an individual perspective not so much for the economy and the society as a whole. > There will always be more volatility to the upside That's a very strong statement.
audleman 3y ago
To the contrary, as long as you can hold through the volatility window of about 4 years, you are better off holding Bitcoin. The price of a house used to be 100 bitcoin, then 10, now it's 5. Wait 10 years and it'll be 0.5. Meanwhile, hold dollars and the price keeps going up. You are defacto forced to put your saving in an investment vehicle to keep up with inflation, taking on risk.
- qwytw 3y ago
  > You are defacto forced to put your saving in an investment vehicle to keep up with inflation, taking on risk. Yes. You got it. That's how you get economic growth. Instead of stagnation and deflation when you hoard gold or bitcoin. It's not exactly fair from the individual people perspective but for the society as whole it's objective the superior option. > To the contrary I know that reading comprehension is hard (even if the "IF" was in very big letters..). If your income is in $ and you buy stuff priced in $ AND you don't want to use crypto as an investment instrument but only for buying/selling good holding it for extended periods of time is not smart (same applies to foreign currencies in general they are just not as volatile).

by qwytw 3y ago

JustinGoldberg9 3y ago

I pay for things with dollars. I keep some cash available at all times. I had to buy a car last year, so I sold some Bitcoin, paid tax on its capital gain, and so I effectively paid less for it, as I held Bitcoin from roughly 20k to 30k. There will always be more volatility to the upside

qwytw 3y ago
Which is great from an individual perspective not so much for the economy and the society as a whole. > There will always be more volatility to the upside That's a very strong statement.

audleman 3y ago

To the contrary, as long as you can hold through the volatility window of about 4 years, you are better off holding Bitcoin. The price of a house used to be 100 bitcoin, then 10, now it's 5. Wait 10 years and it'll be 0.5. Meanwhile, hold dollars and the price keeps going up. You are defacto forced to put your saving in an investment vehicle to keep up with inflation, taking on risk.

qwytw 3y ago
> You are defacto forced to put your saving in an investment vehicle to keep up with inflation, taking on risk. Yes. You got it. That's how you get economic growth. Instead of stagnation and deflation when you hoard gold or bitcoin. It's not exactly fair from the individual people perspective but for the society as whole it's objective the superior option. > To the contrary I know that reading comprehension is hard (even if the "IF" was in very big letters..). If your income is in $ and you buy stuff priced in $ AND you don't want to use crypto as an investment instrument but only for buying/selling good holding it for extended periods of time is not smart (same applies to foreign currencies in general they are just not as volatile).