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etr-strike

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etr-strike
·9 年前·議論
The gold market can be manipulated as most people never take physical delivery of gold. There's no mechanism to audit everyone's holdings. Additionally, I'm of the opinion volatility will decrease as bitcoin matures. Do you really expect a currency bootstrapped from the ground up to not be volatile in its uptake?

We'll see if you're singing the same tune when you're finally confronted with the certain depreciation of your USD holdings. (Will you still reject bitcoin when USD is depreciating at a rate of 5% per year?)
etr-strike
·9 年前·議論
There's two unknowns in this statement. 1) How does bitcoin behave during a recession and 2) What will the next recession look like?

If the next recession takes the form of significant inflation -- resulting in effectively negative interest rates -- you will see flow into bitcoin.

If the next recession is caused by significant defaults on debt, well, bitcoin is also the safe haven asset there.

Bitcoin came into existence as a response to 2008. It's primary purpose is to protect peoples savings from central banks foolishness.

I agree no one knows for sure what will happen. IMO, bitcoin is a reasonable hedge against the monetary policy we have today.
etr-strike
·9 年前·議論
When the next recession strikes, interest rates have no place to go but into negative territory. The rates will be either explicitly negative, or effectively negative (inflation higher than interest rates).

When that happens, bitcoin will be the only safe haven in the world to protect your wealth. The bubble people will be changing their tune very quick.