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by the_gastropod 2645 days ago
Yea! And if you'd invented Facebook 13 years ago, you'd be worth BILLIONS!

What's your point? That 85%+ drops in value are a reasonable thing for a currency? That a 300,000% increase over 10 years is a reasonable return? These are two sides of the same coin telling the glaringly obvious tale that: Bitcoin is an absolutely awful store of value.
3 comments
xiphias2 2645 days ago
The point is that you shouldn't invest in an asset without understanding its properties.

I help my friends buying Bitcoin and I make sure that I prepare them for the huge risk they are taking.

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mannykannot 2645 days ago
You help them by explaining that it would be a mistake to regard an 80% - 85% decline as brutal?
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xiphias2 2645 days ago
Yes, I myself have been through multiple of those, and it's important for people to expect it.

The most brutal things for me were about losisng/forgetting/not writing down correctly passwords, exchanges being gone with part of my money, even though I tried to be very careful. Being 80% down is nothing compares to.these kind of (not as rare as you think) events.

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not-satoshe 2645 days ago
I expect adoption in waves, not linearly.
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not-satoshe 2645 days ago
+200% APY is an excellent store of value.
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the_gastropod 2645 days ago
Do you think 200% annual growth is sustainable? Do you think that would make for a useful currency? Why do you think economists consider low (but positive) inflation to be desirable for currencies? Do you think such growth, mixed in with sporadic 85+% drops (aka: high volatility) is a good attribute for a currency?
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not-satoshe 2645 days ago
No, 200% APY in waves is expected as it becomes the reserve currency. Then it grows in value at a rate equal to the growth in productivity, closer to 0%.

States think positive inflation is good, because it's a hidden tax that they profit from. I think 0% inflation is better for all participants.

Yes, I think growth in waves is a great start for a money. Same thing happened with salt, gold, and other commodity monies.

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imtringued 2645 days ago
That's not how a store of value is supposed to behave. It's supposed to be stable, it shouldn't go up or go down faster than inflation/deflation.
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