No, that's not what it is.
That's not why people buy BTC. They buy it because it's going up.
The ceiling of BTC is infinite cause USD is always falling (due to the simple dynamics of virtually every fiat system) towards a floor of 0.
Ok coiner.
Re:Cryptocurrency Is an Abject Disaster
by gher-shyu3i on Monday April 26, 2021 @02:50PM
(#26946425)
They'll buy it if it doesn't go up either (and doesn't go down obviously). Hedging against inflation is a huge benefit.
If it were a hedge against inflation, it would behave like a hedge against inflation, and yet it shows no similar characteristics to preexisting inflation hedges? hmmmmm
> yet it shows no similar characteristics to preexisting inflation hedges
Is that because, so far, if you were to measure since its inception, it's outperformed any other hedge against inflation?
So did tulip bulbs, for a while.
tulip bulbs aren't a gargantuan decentralized computer network
It's showing a demand for an asset that isn't linked to the central planning of government where they continually and arbitrarily inject as much extra currency as they want whenever they catastrophically mess up sovereign budgets.
That's not greed. It's an interest in safety from a drug-addict-like government that opens the floodgates on a whim.