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A comment on You don't understand money – and it's a good thing for Bitcoin. Parent comment

Re:You don't understand money – and it's a good thing for Bi... by knocte on Friday November 15, 2019 @02:51AM (#21543079)
> A lot of why people bought cryptos is in hopes of massive deflation

No. Bitcoin is not a get-rich-quick scheme, it's a not-get-poor-slowly scheme. It's mainly protection against inflation, not hope for massive deflation.

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Re:You don't understand money – and it's a good thing for Bi... by ivalm on Friday November 15, 2019 @03:13AM (#21543167)
You say this, but that's not what drives volume. Most crypto volume is on exchanges, not on the chain, and that's due to speculation.
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Re:You don't understand money – and it's a good thing for Bi... by knocte on Friday November 15, 2019 @03:24AM (#21543210)
Finance in general is plagued of this too: most money movements are non-productive asset transfers (investing, buying/selling of businesses, ...; as opposed to salaries and individual end-user purchases). But you will always be able to pinpoint the baseline of bitcoin to its most useful feature: people avoiding the criminal monetary policies of their corrupted governments.
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