[zepto]

Price and supply are independent. Bitcoin isn’t a currency. It’s a speculative asset. It doesn’t matter whether it is inflationary within its own realm, so these factors tell us nothing at all.

What matters is whether the speculative asset acts like an inflation hedge.

Spoiler: it does not. It acts like a speculative bubble.

[ashwagary]

Wrong. Monetary policy is the key here. Price discovery, volatility, reflexivity, add noise to the procession/price-chart but over any 4 year period the fundamentals matter. One would have to be insanse to claim btc doesnt act like an inflation hedge, it literally averages approx 200% return every year, over any 4 year period.

Gold is called an inflation hedge by many confused people, compare its performance to btc over the last 10 years and tell me which performs better in the face of fiat inflation.

>Price and supply are independent

Wrong. Price is literally discovered by supply vs demand.

Say 5 billionaires want to buy coin-x and the max circulating supply is 1 coin... When the bidding war starts, are price and supply independent?

I dont think you understand the topic we are discussing here, so I will move on.

[zepto]

Your argument seems to be that Bitcoin’s price has gone up a lot over the last decade, therefore it must be a hedge.

What you are not seeing is that over that time, every one of the promises made about Bitcoin’s utility has been systematically disproven, which is why it has now stalled.

Past performance is no predictor of future gains, as they say.