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by eric_cc
1501 days ago
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> People buy it because they expect the price to go up. Some* people buy it because they expect the price to go up. Other people are switching to bitcoin because it is better money than their local currency. > everything it does can be done better by other things Like what? Trustless transfer of money governed by a protocol that is highly decentralized and secure. |
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USD, EUR, GBP and CHF are less volatile. The countries that manage them all have good credit ratings. Compare to BTC which has lost >55% of its value in the last 6 months. And you're calling that a currency?
Using safe fiat, or even gold, would be the "boring" solution because it doesn't go up in value much. If anything, it slowly loses value, but nothing among those 4 beats the >55% / 6mo drop of BTC.
If you're concerned about inflation, a finance expert might give you a "boring" lecture on how to counter it.
Maybe there should be a guide to the "boring" solutions to the problem that crypto supposedly solves in an "exciting" and (for now) lucrative way.