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Comment by aardvarkr | Hacker News Reader

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

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.

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

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

> 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.

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.

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

BTC is deflationary by design.

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

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.

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.

In the same way as there are more gold dug from the ground today than before. What is the difference?

Drug cartels, sanctioned Russian oligarchs, international arms dealers.

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