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That's a good point; perhaps I was a bit loose with words. Its killer app is that it's a great speculative asset.
by natrius 12y ago
That's a good point; perhaps I was a bit loose with words. Its killer app is that it's a great speculative asset.
- tptacek 12y agoOkay, but that is also (not being snarky) the killer app of a deck of cards.
- natrius 12y agoDo you have any thoughts on the scenario I described?
- tptacek 12y agoBitcoin is an especially bad store of value. It is subject to stark and unpredictable devaluation, followed by manic upswings that increase its volatility and harm its utility to normal business, which selects out the boring currency users that would be the backbone of a sane valuation and selects in toxic speculators that amplify its volatility in the next iteration of the cycle.