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No, but people are feeling sketchy about keeping their wealth in USD
by jazzyjackson 2y ago
No, but people are feeling sketchy about keeping their wealth in USD
- MuffinFlavored 2y ago> USD sketchy > BTC less sketchy I get what you are saying but it is still a wild sentence. I get monetary policy, debasement, inflation... but there is no rule/law that says "BTC MUST be a safe-haven alternative to inflation"
- marcosdumay 2y agoThe relative sketchiness between those two just had a significant change. Prices are set on the margins. Not at the absolute values.
- tucnak 2y agoNobody is alluding that it _must_ be a safe-haven w.r.t. inflation; just that it's less sketchy than USD. However, I personally wouldn't put my money there, because there exist cryptocurrencies with much stronger fundamentals. XMR is one of them: the cartels, major organized groups, money laundering industries are all doing their books in it. People often claim that Bitcoin is weak fundamentally, nobody uses it for goods and services, etc etc, well they should buy XMR—it's really strong, and indeed, stable like that.
- MuffinFlavored 2y ago> just that it's less sketchy than USD. I think the asset with $20t (M2) that has been around for hundreds of years and has a military behind it is less sketchy that the internet math coin.
- seadan83 2y agoWhile tempting to link the two, you really can't. Post-hoc rationalization fallacy. I've come to appreciate that all of Yahoo finance/stock news is true bullshit. Markov process, random fund manager deciding to move money, these are all potential explanations rather than an actual identifiable and causative zeitgeist. In other words, a lot if it is really just quite random (potentially with a long term trend. But let's say again, post-hoc rationalization fallacy)