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A comment on Bitcoin breaks above $20k. Parent comment

Re:Bitcoin breaks above $20k by agumonkey on Wednesday December 16, 2020 @12:17PM (#25445187)
You don't think "bitcoin as an inflation resistant storage" is a good theory ?
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Re:Bitcoin breaks above $20k by mrlala on Wednesday December 16, 2020 @03:32PM (#25448192)
Not at all, you know why? Because everyone talks about BTC relative to some other currency.

The very topic of this post "Bitcoin breaks above $20k or $20,000 USD / BTC". How can something that can only be quoted in terms of another currency be inflation resistant?

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Re:Bitcoin breaks above $20k by cwkoss on Wednesday December 16, 2020 @05:11PM (#25449473)
Can't USD only be quoted in terms of other currencies/assets? (At least since we left the gold standard?)
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Re:Bitcoin breaks above $20k by ordinaryradical on Wednesday December 16, 2020 @01:34PM (#25446370)
It doesn't matter if it's priced incorrectly and because of the scale of manipulation being carried out by Tether and probably other large actors cooperating to influence price, btc cannot be priced correctly.

The pricing mechanism for crypto is always going to be screwed by PoW, I think, because it naturally concentrates power into the hands of a few that can coordinate relatively easily.

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