[da-x]

However so far it's not proving to be a currency (short term stability, long term deprecation or preservation) but only an asset class (short term instability, long term preservation).

So far it is only proving that it cannot be both.

For assets, one can choose to invest in already existing inflation resistant assets, and many investors and even unsophisticated laypeople did that across the ages before Bitcoin was invented. So essentially federally-issued inflationary currency is not really a problem of investment because there are other alternatives to it when investment is concerned.

[pengwing]

BTC is already a de-facto currency in El Salvador and somewhat short term stable.

As an asset class BTC solves yet another problem: It is a better version of gold due to the hard supply cap.

[da-x]

"Bitcoin Failed in El Salvador. The President Says the Answer Is More Bitcoin." [1]. Short term stable? A currency that falls 20% in one month is far from it.

Gold is the least good example among these kind of assets, because ownership is less bound and provable by law. Stocks and real estate are much better in that regard.

[1] https://foreignpolicy.com/2021/12/06/bitcoin-city-el-salvado...

[genewitch]

The US dollar has fallen way more than 20% in value in the last year, if my grocery and petroleum expenditures are any indication.

Or is that why Bitcoin is "worth less", too?