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Re:Bitcoin Falls Below $20k for the First Time Since 2020 by scoopertrooper on Saturday June 18, 2022 @05:36AM (#31788476)
You shouldn't have your wealth stored in a medium of exchange, while expecting capital appreciation exceeding or even comparable to the equity market. That kind of volatility is a sign of there being something seriously wrong with that medium of exchange.
Re:Bitcoin Falls Below $20k for the First Time Since 2020 by lrvick on Saturday June 18, 2022 @05:49AM (#31788537)
Storing wealth in an -inflationary- asset like fiat currency is a stupid move, I grant. I store value in a mix of fixed quantity or -deflationary- assets that are useful or interesting to me like art, vehicles, real estate, and yes... crypto-assets. The latter is perhaps the most volatile but also has the highest liquidity, is fireproof, can be traded for other assets anonymously, etc. Tradeoffs.
Re:Bitcoin Falls Below $20k for the First Time Since 2020 by cmrdporcupine on Saturday June 18, 2022 @07:29AM (#31788912)
Calls fiat currency inflationary while advocating a "currency" that has had (as of this moment) 45.92% inflation YoY and is rapidly getting worse.

Nice religion you got there.

Re:Bitcoin Falls Below $20k for the First Time Since 2020 by datadata on Saturday June 18, 2022 @08:30AM (#31789250)
Normally by inflation it is meant "monetary inflation", price has no bearing on this.
Re:Bitcoin Falls Below $20k for the First Time Since 2020 by cmrdporcupine on Saturday June 18, 2022 @08:41AM (#31789303)
So you agree it's not money then.
Re:Bitcoin Falls Below $20k for the First Time Since 2020 by datadata on Saturday June 18, 2022 @09:30AM (#31789651)
That is irrelevant here. The argument that bitcoin is not inflationary is merely that it has a supply cap. USD has no supply cap but it obviously has lower price volatility. That said, it is the Fed's goal to purposefully reduce the purchasing power of USD by 2% every year, so the trajectory is clear.
Re:Bitcoin Falls Below $20k for the First Time Since 2020 by cmrdporcupine on Saturday June 18, 2022 @11:43AM (#31790872)
Your point about fiat currency is also irrelevant here. Bitcoin has been inflationary in the real world in actual practice. At least over the timescales we're talking about. While fiat currency has been inflationary, Bitcoin has been even more so.

And again back in reality, measures (interest rate increases) to counteract inflation in the fiat currency also make Bitcoin an unattractive "investment":

"The higher [interest] rates go, the more cost to hold an asset that does not produce anything." - Jamie Dimon, CEO JP Morgan

Bitcoin for a while was an unproductive but speculatively "profitable" (for non-greater fools) place to shove money when interest rates were low. Now that money is moving out.

Re:Bitcoin Falls Below $20k for the First Time Since 2020 by datadata on Saturday June 18, 2022 @01:41PM (#31792012)
You are conflating price volatility with inflation. Stocks are also down in price this year for the same reason. Stocks are not inflationary either.