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Comment by easymovet | Hacker News Reader

Not just because they are a bearer asset but because their scarcity retains purchasing power orders of magnitude better than paper money.

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Wait, what?

Bitcoin retains purchasing power? Better than money?

Can you explain? In what real-world scenario does Bitcoin have stable purchasing power?

I’m not claiming a fact, I’m quoting the article since you made a statement that didn’t accurately represent it.

> (...) their scarcity retains purchasing power orders of magnitude better than paper money.

Bitcoin market price tanked from 54k to 29k a few weeks ago, and currently is still around 30k.

That's not exactly what I would call retaining purchasing power.

Make sure you mention the currency. It sounds like you're talking about the BTC/EUR exchange rate.

But many people shouting this, they bought at levels below 5k for btcusd. Then it retains purchasing power fine. I am going to say we will see below 5k again within 2 years though, so you can have another chance to get purchasing power for btc yourself.

Yeah, and it went all the way up to 60k+ in about the same time. People who bought the top in 2017 have literally doubled their money. I wonder how much purchasing power bitcoin holders will have 10 years from now.

> Yeah, and it went all the way up to 60k+ in about the same time.

No, not really. In fact, today it's still lingering around 32k.

Regardless, it seems you inadvertedly tried to make the case that indeed Bitcoin is highly volatile and does not work at all as a store of value.

It’s over 40k, so either you don’t have access to real time data or you are trying to paint a picture that you prefer to believe. You can’t expect zero volatility in a new money while its being adopted. It’s the only fixed supply money in a world that’s printing paper like crazy, where do you think that trends trends to?

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