RemindMe! 5 years
If BTC were a person, it'd be entering high school and thinking about a student-driver license. We've got an extensive history to draw upon now.
They aren't making any more VHS copies of Toy Story, which IIRC was estimated to be ~21 Million copies of tape.
* Zimbabwean dollars aren't being made anymore.
* Lunacoins / Terracoin isn't being made anymore.
Do these have any reason to go up? And they are (were) real currencies / cryptocoins.
Actually, it is. There is even activity in the repos.
https://github.com/terra-money
People still trade it too:
https://coinmarketcap.com/currencies/terra-luna-v2/
I don't agree with it personally, but just clarifying a fact.
I'm talking about v1.
The problem with vapid statements is that I can just copy/paste your argument and change the words around... demonstrating how its a useless phrase all together.
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"Inflation Hedge" would be a truly useful thing. That's why it sticks, because people desperately want to prove BTC to be useful. Unfortunately, the stats just don't work out, so you see people twisting the meaning of "inflation" and "hedge" in this very thread.
"Hedges" are things that have high amounts of correlation. (Ex: Hedge on gasoline would be buying assets correlated with gasoline. Exxon, or maybe Brent Crude). And the r-value / correlations can be readily demonstrated. Either positive r-value or negative, it doesn't matter. The important bit is that there's a strong correlation (or anti-correlation).
Why is there such a correlation between all cryptocoins and BTC?
Methinks your definition of "hardness" isn't as important as you think it is.
The desperate rationalisation will only increase with each halving cycle. The oh-so-clever "tulips" joke is becoming increasingly tragic.
Bitcoin is undeniably volatile, but it is becoming less volatile over time and it continues to (on an investment period longer than a year or so) be a fantastic hedge against inflation.
Even if you buy stocks, the general consensus is that you should be looking at a longer timeframe to ensure you can handle any short-term losses.
Yeah. "BTC Is an inflation hedge". Then BTC doesn't protect you from inflation. Then "Inflation hedge doesn't mean inflation or hedge, it really means..."
I'm tired of BTC community defining terms, and then redefining them when the statistics don't work out in their favor. I recognize that BTC community wants "number goes up", but just stick with that and be honest with yourself. Don't invent new bullshit terms for bullshit reasons that are discarded almost immediately.
> be a fantastic hedge against inflation.
Holy crap here we go again.