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A comment on Tesla buys $1.5B in Bitcoin, may accept it as payment in the future. Parent comment

Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by ArkanExplorer on Monday February 08, 2021 @08:54AM (#26064430)
You should blame Governments of the world, for holding interest rates at lower levels than the inflation rate.

eg. the USA inflation rate is 2%, whereas the interest rate is 0%.

Its inevitable that savings will flow out of fiat and into all kinds of other assets. This is the entire purpose of low interest rates - to inflate the value of assets held by retirees, pensioners, and the ultra-wealthy.

Bitcoin is unique because the supply cannot be expanded (beyond what is scheduled as rewards for miners) - unlike gold, shares, living spaces. Its also significantly more liquid and easier to transact than any of those assets because it is digital and global.

[ Parent | on HN ]
Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by PragmaticPulp on Monday February 08, 2021 @09:00AM (#26064501)
You don’t have to choose just one, single party to accept the blame. Bitcoin can be wrong even as other alternatives are also wrong.

Also, the Bitcoin supply may be limited, but the supply of new alt pins or even BitCoin forks continues to inflate every year.

[ Parent | on HN ]