> To whom? When?
To most people. Look at BTC/USD for the last year, and then look at a currency during hyperinflation, that loses 10% a day, every day. Which would you rather hold?
Speaking of cherry picking, the hyperinflation events that you mention happened a few times over centuries, but they happen on a quarterly basis in cryptoland. And somehow that makes crypto better?
How does "everyone" benefit from a massively unstable currency? Who actually desires money that can double and halve in value overnight, and why?
> Who actually desires money that can double and halve in value overnight, and why?
As I said twice above, if you live in Zimbabwe, or even Argentina, bitcoin is probably preferable to the state currency. That's really all I'm saying. Technical hyperinflation is not all that common perhaps, but even at 10-20% a month it gets hard.
How so? It has no control mechanism to prevent it. I get that the brakes (central banks) don't always work perfectly, but removing them entirely is an odd choice.
> Having a currency that jumps up and down by a factor of 2 like bitcoin in the last year is still better than one that melts away
To whom? When?
> You can easily imagine [...], that's not inherent in the concept of a crypto currency
It's easy to win an argument when you compare a real world system to one that doesn't exist.