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Bitcoin could be more compared to a national currency like Argentinian pesos. The value can go to zero as it is no longer accepted (people do not want it), but
by miohtama 2y ago
Bitcoin could be more compared to a national currency like Argentinian pesos. The value can go to zero as it is no longer accepted (people do not want it), but there is no inherited promise in the first place it goes up forever.
All it matters that it will stay more stable than other assets. And we know from economic history that assets tied to nations may disappear overnight, e.g. Cyprus.
- EVa5I7bHFq9mnYK 2y agoUnlike pesos, or dollars, Bitcoins can't be printed for free.
- oblio 2y agoAnd Bitcoin isn't backed by a country's economic output and their military.
- est31 2y agoTrump wants to make the Fed, which is supported and defended by the biggest military on this planet, hoard bitcoin. It turns out you can buy politicians with money, and Bitcoin supporters have done just that.
- EVa5I7bHFq9mnYK 2y agoAnd that's the beauty of it. It's strong enough by itself so it doesn't need military protection.