Earlier quoted context omitted.
> Currencies are inflationary to incentivize spending Really? Doesn't seem like getting off the gold standard was so miraculous in preventing recessions. Spending is great for consumerist societies, but people who are allowed to save are allowed to make far better economic votes on what is valuable past short term pleasure. Inflation doesn't encourage spending, it kills saving and makes storing wealth something only…
> Really? Doesn't seem like getting off the gold standard was so miraculous in preventing recessions. I'd look back at the graphs. The wild inflationary and deflationary swings were dramatically worse on the gold standard. Because inflation doesn't depend on supply of currency but instead it is calculated from the price of goods. > Inflation doesn't encourage spending, it kills saving and makes storing wealth somethi…
Not risk free. Plenty of people making conventional investments lost their savings and retirement during 2008. It's all dependent on the Fed and their discretion. Real stores of value are not.
> Pathetic cherry picking. How about you do it based on the percentage of people underwater. 40% of all bitcoin investors are now underwater. Unless you have a time machine, my number is far more relevant than yours. The entire country of El Salvador is down 40% from their investments. How many people are underwater on the Series I bonds - an actual hedge against inflation? Nobody.
Measured in dollar value? Of course people aren't underwater on their bonds against the dollar nominally - do you know what inflation means?
The rest of your garbage can be refuted by reminding you that Bitcoin is in price discovery mode. No shit an asset with a tenth the market cap of gold, that's only been around ten and a half years, that hasn't reached adoption, and whose security scales slowly with market cap is more volatile. The majority of investors throughout Bitcoin's history have enjoyed that volatility as the majority are in profit. But feel free to cherry pick the short term losers who are holding their coins at record highs.