People don't want to run their own bank

Re:People don't want to run their own bank by lrvick on Friday February 04, 2022 @11:05AM (#30208568)

I am only a home owner because the value of my deflationary BTC savings dramatically outpaced inflationary USD savings account interest.

If bitcoin is coming in constantly you get it at the average price via dollar cost averaging and the average value of Bitcoin has trended sharply up for a decade.

Selling BTC for USD is most likely a loss to inflation if you intend on holding for a year or more.

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Re:People don't want to run their own bank by ryan_lane on Friday February 04, 2022 @03:17PM (#30212446)

You gambled your money against other people. You won, and they lost. Their losses paid for your house.

12m y/y bitcoin is up 8% and the S&P is up 18%, so if you gambled your money into bitcoin a year ago, you made a bad choice. Note that last week bitcoin was down 5% y/y. Bitcoin, y/y is hardly beating USD inflation, right now, after a major increase in the price today.

Also, stop comparing a speculative asset to a currency. USD isn't meant to be held as an investment. It's meant to be spent, or invested in an asset that appreciates more than inflation.

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