[max59676]

>Who can look me in the eye with a straight face and say bitcoin protects against volatility?

Can you really say with a strait face that you think BTC's volatility is worse than literally losing your bank account with all it's content?!

People who live in places like the US forget that the average fiat currency has a lifespan of roughly half your life expectancy (37yr irrc).

[Sebb767]

> Can you really say with a strait face that you think BTC's volatility is worse than literally losing your bank account with all it's content?!

Ask Luna holders for their opinion on this matter, it seems they experienced pretty much the same thing (or holders of any other crashed cryptocoin). Bitcoin itself might not be down 100%, but it also lost a serious amount of value in the last half year. Plus, there are a lot of ways to completely loose your bitcoin, be it hardware failure or scams.

So yes, I can say with a pretty straight face that Bitcoin is not a great protection against volatility, which is what the original comment claimed.

[janandonly]

Why would you drag down Bitcoin to the level of the know scammer/shitcoin/altcoin Luna???

[spaceman_2020]

No serious person involved in crypto would keep their wealth in a coin like Luna. They will buy it for speculative purposes, but that’s about it.

[rkagerer]

Luna ≠ Bitcoin

[sph]

Indeed, it would be like blaming the USD because I lost my shirt at the casino.

The problem about crypto is that all the scam coins and get-rich-quick schemes gave a bad name to that famous piece of technology.

[tradertef]

Luna =/= Bitcoin

[elliekelly]

> Can you really say with a strait face that you think BTC's volatility is worse than literally losing your bank account with all it's content?!

No. But BTC is worse— it comes with all of the volatility and the risk of losing your account with all it’s content.

[knocte]

its

[PebblesRox]

Whereas Bitcoin has been around for hundreds of years and is still going strong.

[renonce]

Bitcoin was invented in 2009 so it's been around for exactly 13 years. And its value is extremely volatile.

[sph]

Imagine if money didn't exist at all and we invented it today. It would be such an enormous technological game changer its value would change very very rapidly as we're going from zero to a huge "market cap" very quickly.

Imagine a pool. If you fill it with a lot of water rapidly, there's going to be a lot of turbulence. Doesn't mean that in the long run, as it gets filled, it won't settle down.

The volatility argument doesn't consider the fact that it's gone from zero to something big players and states invest in in 13 years. And that frankly it was not good enough to be digital cash but it's getting there. That's bound to cause a lot of turbulence.

[andsoitis]

So are you suggesting?:

Hang on tight

Buy more coin

It will stabilize some day

[sph]

I'm not suggesting anything. I'm just saying it's early to say how volatile it is in the long term. In the short term, it's a roller coaster for sure.

But economically and mathematically speaking, a deflationary currency tends to be less volatile than an inflationary one.

Do whatever you want with your money.

[andsoitis]

> a deflationary currency tends

While Bitcoin might be a deflationary currency (i.e. max supply), cryptocurrency more generally has infinite supply (anyone can start a currency).

[imtringued]

>the average fiat currency has a lifespan of roughly half your life expectancy (37yr irrc).

Just like our products, fiat currencies have planned obsolescence and limited lifespans, this is because permanent money is a fantasy that cannot exist in the real world. Almost nothing in the real economy is permanent, not even humans.

If you want a currency that lasts forever it will have to not only have children, it will also have to be able to die like humans.

[janandonly]

Ever heard of gold? It worked well for 4000 years, at least.