Re:Nouriel Roubini: Bitcoin is not a hedge against tail risk
by rawtxapp on Wednesday February 10, 2021 @12:45PM
(#26092355)
Well if the price increased at 1$, and you didn't sell any, you risked it going back to 0$. From that perspective, there's a risk holding on to it.
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Re:Nouriel Roubini: Bitcoin is not a hedge against tail risk
by PragmaticPulp on Wednesday February 10, 2021 @12:54PM
(#26092499)
Investments are made to fund value creation.
What value did they create?
If the underpinnings of an economy accrue value purely to speculators while devaluing (in BTC-relative terms) actual assets and value creation, it has a major incentive problem.
What’s the one and only thing Bitcoiners want you to do with Bitcoin? Buy. That’s it. Any other use, including spending, is actively discouraged.
Re:Nouriel Roubini: Bitcoin is not a hedge against tail risk
by rawtxapp on Wednesday February 10, 2021 @12:58PM
(#26092538)
The value they created is a currency that's not controlled by a select few people.
Re:Nouriel Roubini: Bitcoin is not a hedge against tail risk
by SideburnsOfDoom on Wednesday February 10, 2021 @01:09PM
(#26092708)
1) Not a currency, 2) Debateable that it's value at all, and 3) "controlled by a select few people" is a remarkably paranoid/conspiracy way to frame that central banking is a necessary function of government.
Re:Nouriel Roubini: Bitcoin is not a hedge against tail risk
by rawtxapp on Wednesday February 10, 2021 @01:20PM
(#26092850)
1) I can use it to transfer monetary value, which is good enough for me,
2) the market puts it's current value at 45k$,
3) doesn't change the fact that central planning has created a very fragile economy.
Re:Nouriel Roubini: Bitcoin is not a hedge against tail risk
by SideburnsOfDoom on Wednesday February 10, 2021 @01:23PM
(#26092889)
Transferring monetary value at only 7 tps, while burning resources like a forest fire.
Visa is not worried.
Re:Nouriel Roubini: Bitcoin is not a hedge against tail risk
by rawtxapp on Wednesday February 10, 2021 @01:30PM
(#26092971)
@sideburns, Visa is not worried because they are going to start offering crypto payments.
Re:Nouriel Roubini: Bitcoin is not a hedge against tail risk
by elhudy on Thursday February 11, 2021 @09:27AM
(#26101783)
That is not a "risk" in the sense of adverse outcomes. Anyone can throw bitcoins in a wallet and forget about them for 10 years. There is no risk of adverse outcome involved in doing so, and people should not be rewarded it.