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So I suppose people must use it all the time to buy goods and services. Right?
I know you are being snarky, but i think its worth pointing out that ever increasing prices is bad for a medium of exchange not good. The higher prices decreases the liklihood of it being used like a currency.
So I suppose people must use it all the time to buy goods and services. Right?
Instead Bitcoin is used to buy illegal products and services such as drugs, weapons, politicians and hit men
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Speculators buying from speculators and hoping today isn't the day the hot potato explodes.
no, but I am using my index fund on s&p 500 to buy goods and services
It has in dollar terms but it still hasn't on an inflation adjusted basis. One bitcoin today has less purchasing power than at its peak in November 2021. The dollar has lost about 12.5% since then so the true all time high would be around $79250.
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no, but I am using my index fund on s&p 500 to buy goods and services
The difference is that owning bitcoin doesn't give you partial control over the world's largest companies.
The people who predicted it would collapse appear to have been wrong, and the people who predicted it would come back appear to be right. My own position was that it's so volatile that it will always be a roller coaster, which is why I don't invest in it anymore. I'm sure it'll crash again, and come back again, and I don't like drama when it comes to my money. But to me, this is more evidence against the Ponzi scheme narrative, which was always a lazy description that didn't match the history of the coin. BTC is something else entirely. Still scary to me, but something else.
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How long has this been the case for gold roughly? Since the 1970s?
Gold is used to make things. You can argue what its value should be as a material alone, but it’s not entirely speculation.
Is there a better link for this? For me this page says Bitcoin is now priced at 73,889,189.67 Argentine pesos, which is not even correct (they're using the government's fake exchange rate, which is not the one anyone buys or sells Bitcoin in) nor especially notable—peso inflation has produced "new all-time high prices" in Bitcoin in about half of all months over the last ten years. And tomorrow or next week the link…
Soon this will all collapse, reaching all time highs isn't a good thing. Pyramid scheme at best, ponzi scheme at worst. I still don't know any use case for this other than speculation and people aren't even using it in the real world.
1. Speculation
2. Converting to a real fiat with enforceability, like USD