[aardvarkr]

So what makes a bitcoin worth $100k if it’s such a shit currency?

[dpark]

Speculation.

A good currency is stable. Bitcoin has gone up over 5x in the last 5 years. This is not a good currency, though it’s certainly been a good speculative bet.

[esseph]

Used by wealthy Chinese to get more than $50k into the country at a time, bypassing Chinese law.

[queenkjuul]

You think each unit being $100k and fluctuating wildly is the mark of a GOOD currency?

[throw0101a]

> So what makes a bitcoin worth $100k if it’s such a shit currency?

What makes mint condition Babe Ruth baseball cards worth what they're listed at?

* https://www.sportscardspro.com/search-products?q=babe+ruth&t...

Something is "worth" whatever someone is willing to pay for it.

[kikimora]

What is BTC inflation? How much BTC was printed by government in recent years? And of course - how much it grew in value?

In other words: * deflationary nature * independence of any government * speculation

Governments will keep printing money. Stock market is only good in US (check Japan and China). Bitcoin is good alternative investment in places where options primarily limited to property.

[idiotsecant]

I am really excited to hear you explain in what way BTC is deflationary. Go ahead, I'll wait.

[kikimora]

BTC is deflationary by design.

[idiotsecant]

Fascinating! What has the rate of inflation of Bitcoin been this month? This year? This decade? At what point has it been deflationary?

[kikimora]

You can equally ask what was inflation of natural gold and diamonds. It was zero since there is fixed amount of gold and diamonds on the planet. Same with bitcoin.

[idiotsecant]

What?? There has been more Bitcoin today than there was yesterday since the first BTC was mined. It's the definition of inflationary. You have no idea what you are talking about.

[bediger4000]

Drug cartels, sanctioned Russian oligarchs, international arms dealers.