"Investing into crypto to avoid inflation"
*Buys Bitcoin* *Does not realize it has over 8% inflation a year and there's still 6-7 million coins coming out*
Bitcoin has more inflation than currencies in developed first world countries.
https://www.cryptocoinsnews.com/bitcoin-price-90-users-want-higher/
90% of Bitcoiners want the price to be higher. A good example of Stockholm Syndrome is where these same 90% of users will continue to support inflationary PoW. Yet it is this inflationary PoW which creates a downward pressure on Bitcoin's price! The user base does not know about alternative mechanisms.
The only non-inflationary crypto that was in the top 10 was NXT. "Why didn't NXT go to the moon, then?". Just because you don't have inflation doesn't not mean you can ignore the network effect.
*Buys Bitcoin* *Does not realize it has over 8% inflation a year and there's still 6-7 million coins coming out*
Bitcoin has more inflation than currencies in developed first world countries.
https://www.cryptocoinsnews.com/bitcoin-price-90-users-want-higher/
90% of Bitcoiners want the price to be higher. A good example of Stockholm Syndrome is where these same 90% of users will continue to support inflationary PoW. Yet it is this inflationary PoW which creates a downward pressure on Bitcoin's price! The user base does not know about alternative mechanisms.
The only non-inflationary crypto that was in the top 10 was NXT. "Why didn't NXT go to the moon, then?". Just because you don't have inflation doesn't not mean you can ignore the network effect.
Yes but the inflation drops after a while. And with bitcoin we know exactly when it decreases and stops completely. So it's not like FIAT which can be printed whenever they decide to.
With that said I believe USD is winning the currency war so it might be a good investment but I don't see how it's better than Gold and Silver?