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A comment on The Schism Over Bitcoin Is How Bitcoin Is Supposed to Work. Parent comment

Re:The Schism Over Bitcoin Is How Bitcoin Is Supposed to Work by elif on Friday February 12, 2016 @03:59PM (#11090536)
A. I'm not sure how to address your security concerns. Perhaps you could elaborate.

B. The swings are not 'massive' as you are imagining. The floor at $370 has held through multiple selloffs now. If you look at the Rate of Change per day, it doesn't look much different from the DJIA.

C. The average dollar user doesn't understand how the fed works.

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Re:The Schism Over Bitcoin Is How Bitcoin Is Supposed to Work by saalweachter on Friday February 12, 2016 @04:31PM (#11090792)
Regarding 'B', it doesn't help Bitcoin's case to keep comparing it to the stock market. If it's a currency, you can't fob off swings so glibly; if it is an investment, what is it an investment in?
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Re:The Schism Over Bitcoin Is How Bitcoin Is Supposed to Work by elif on Friday February 12, 2016 @06:03PM (#11091337)
I think a label like "currency" attempts to oversimply bitcoin. There is obviously a bigger speculative component to it than most currencies. "Investment" may not be an appropriate term either.

However, I find value in bitcoin because it is relatively independent of inflation and market cycles. Notably, it seems to have an inverse relationship with oppressive currency controls (e.g. greece, venezuela). I suppose, in that way, you could consider it an investment in personal sovereignty.

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