My post will be long hope that’s okay but we need to clear the air on a few things for both the BTC haters and lovers so that we can all be on the same page.
Bitcoin, in a vacuum, does it’s job incredibly well. It is a transparent, decentralized form of exchange with a limited supply. It can be transferred anywhere anytime with no interference beyond two parties involved. There is almost no other infrastructure, digital or physical, that is even comparable to Bitcoin in this regard.
This has caused many to speculate BTC will eventually see widespread adoption as an alternative to fiat, and led to much investment into Bitcoin. This has recently caused bitcoins price to surge in comparison to the fiat it’s priced in. Currently, Bitcoin is behaving like a speculative asset, as it is one. This does not however make the thesis irrelevant or incorrect.
Fiat is still, over the long term, inflationary, and subject to unfair regulation, and cycles where we switch between the nation providing and backing the currency. There are many problems with fiat that aren’t being addressed that is being kept because those in charge benefit from the status quo. We are in a time of upheaval, in which it’s become obvious world wide income inequality nor inflation is going to be properly dealt with. There will eventually be an everyday person response that changes the dynamic in order to adjust to these circumstances.
In the digital age, I’m willing to take the bet that the service and value Bitcoin provides will eventually usurp that role. But the call is for yours to make based on the information provided.
Submitted July 26, 2022 at 10:22PM by _RetroDigital_ https://bit.ly/3PQC7bs
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