Re:El Salvador to adopt Bitcoin as legal tender
by tofukid on Saturday June 05, 2021 @11:24PM
(#27410505)
This goes both ways. Why buy a beer for $5 if Bitcoin is going up? You should just buy Bitcoin instead. Why buy $5 beer if instead you can buy index funds?
Re:El Salvador to adopt Bitcoin as legal tender
by grogenaut on Sunday June 06, 2021 @12:55AM
(#27410894)
Because I want a $5 beer today, and one next week as well. Why buy bitcoin until you die and never have beer? Are you even living at that point?
Re:El Salvador to adopt Bitcoin as legal tender
by ric2b on Monday June 07, 2021 @07:04PM
(#27428451)
> Because I want a $5 beer today
So then why feel bad about trading some BTC for it? The regret would be for not buying back.
Re:El Salvador to adopt Bitcoin as legal tender
by louloulou on Sunday June 06, 2021 @02:28AM
(#27411218)
Who's doing that? People can choose to hold whatever assets they want in whatever proportions they think are best (assuming they are not shut out of the fiat banking system, and live in a stable developed country).
Because you can buy beer for dollars, so if your local beer costs 50$ in BTC it makes sense to sell BTC for USD and order beer. And if your beer suddenly costs 0.001$ in BTC it makes sense to sell it off to someone in USD and refuse selling in BTC.
> It is worth the same number of bitcoins yesterday, today, and tomorrow. That's the only stability that is relevant.
This is the most idiotic argument ever, if this was true it would be irrelevant if a currency depreciates/appreciates.