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Re:Bitcoin Surpasses $4,000, Reaches Another Milestone by sxv on Sunday August 13, 2017 @01:58AM (#15001727)
a decentralized, unseizable, cross-border, deflationary store of value. it's next-gen gold.
Re:Bitcoin Surpasses $4,000, Reaches Another Milestone by noitsnot on Sunday August 13, 2017 @02:06AM (#15001735)
unstable and unusable. next-gen pyramid scheme
Re:Bitcoin Surpasses $4,000, Reaches Another Milestone by koonsolo on Sunday August 13, 2017 @03:19AM (#15001905)
I sure hope so for your sake, because if the real bubble is fiat money, and you have 0 cryptocurrency, you are basically screwed.
Re:Bitcoin Surpasses $4,000, Reaches Another Milestone by rebuilder on Sunday August 13, 2017 @03:24AM (#15001923)
If it comes to pass that "Not having crypto" = "screwed", then the chaos will be such that everyone's screwed, anyway.
Re:Bitcoin Surpasses $4,000, Reaches Another Milestone by koonsolo on Sunday August 13, 2017 @04:47AM (#15002131)
Don't worry, people in hyperinflation countries also survive(d). So no need to worry.

As long as you have trust in your government for making the money, and the banks for multiplying it, you have nothing to worry about.

Re:Bitcoin Surpasses $4,000, Reaches Another Milestone by qq66 on Sunday August 13, 2017 @02:08AM (#15001738)
Gold wouldn't have this role if there was not substantial consumer and industrial demand for it.
Re:Bitcoin Surpasses $4,000, Reaches Another Milestone by ericb on Sunday August 13, 2017 @08:42AM (#15002674)
The portion of gold's market cap attributable to consumer and industrial demand is miniscule compared to the portion attributable to its wealth protection function. Bitcoin is a better mousetrap for that use-case and the market is figuring that out.

The market's decision about what to use as a store of value is a market-wide Schelling point decision based not around "what asset has underlying value" as any underlying value is quickly dwarfed by the magnitude of the value that needs to be stored, but instead the Schelling point decision is based on what asset has the best properties for money. If you look at what has been money in the past, you'll see examples (like giant stones) that were clearly not based on underlying industrial demand.

https://en.wikipedia.org/wiki/Focal_point_(game_theory)

Re:Bitcoin Surpasses $4,000, Reaches Another Milestone by solotronics on Sunday August 13, 2017 @02:36AM (#15001802)
Bitcoin wouldn't have any value if there wasn't demand for it.
Re:Bitcoin Surpasses $4,000, Reaches Another Milestone by koolba on Sunday August 13, 2017 @03:02AM (#15001856)
In the short term price and value don't have to align.
Re:Bitcoin Surpasses $4,000, Reaches Another Milestone by solotronics on Sunday August 13, 2017 @11:59PM (#15006504)
Bitcoin has existed for 9 years. While you are waiting we are reinventing how money works.