Bitcoin surpasses $50K as major companies jump into crypto

Re:Bitcoin surpasses $50K as major companies jump into crypto by mbesto on Tuesday February 16, 2021 @10:16PM (#26162220)

> Inflation of an asset means that the asset itself drops in value, relative to the value of other goods.

That assumes an asset can be used as a medium of exchange. In its current form, BTC is not a medium of exchange, it's a store of value.

In other words - the word inflation has to do with purchasing power. If the asset isn't used as a way to purchase then comparing the characteristic of inflation is basically pointless. It' be like saying "trees are inflating as an asset". No one makes purchases using trees so the concept is irrelevant.

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Re:Bitcoin surpasses $50K as major companies jump into crypto by tylerhou on Tuesday February 16, 2021 @10:42PM (#26162374)

Hence, "if we treat Bitcoin as a currency."

But you're right that Bitcoin is mostly used as a speculative investment, and not to actually exchange goods. (That's not very convincing to crypto-people, though.)

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