Seems like a funny time to be making the inflation hedge argument. Say what you will about USD inflation, but it's never lost ~30% of its buying power in a month, as Bitcoin has in the past month.
Seems like a funny time to be making the inflation hedge argument. Say what you will about USD inflation, but it's never lost ~30% of its buying power in a month, as Bitcoin has in the past month.
Simply stated, purchasing power of $dollar has been going down, consistently, over the last 200 years.
Bitcoin is a more volatile asset but over long term (year+) it's going up.
By a lot.
Hugely.
This might change in the future but the historical performance of bitcoin crushes historical performance of a $dollar.
Check out the Lightning network, it's much more about currency/goods/services as a Bitcoin service.
With the possible exception of dark web drugs/gun/murder-for-hire/WHY every case I've seen of BTC being used for goods and services involves dynamic currency conversion. i.e. the price is in, say, USD and the amount it costs in BTC is derived from the USD spot price of BTC.
It's like I swipe my credit card in Japan; the price is in JPY but I pay in USD.
I would be interested to see any counterexamples.
Everything on OpenSea is priced in cryptocurrencies natively: https://opensea.io/
By USD OpenSea's contract transacted an estimated 8% of Amazon's revenues.
To Bitcoin.
When you define the USD as stability, then yes, USD is stable. It seems like circular logic.