Post
Topic
Board Bitcoin Discussion
Re: In times of turmoil, is Bitcoin really a safe-haven asset?
by
squatter
on 30/03/2020, 00:38:27 UTC
Besides that fiat money religion is everywhere, I also don't think it is a good idea to make bitcoin a standard unit of account, since the production cost (mining cost) rises too fast.

That's probably just because we are in an exponential growth period, the "early adopter" phase. Miners are heavily speculating about future adoption and value. I don't think this will always be true.

Once mainstream adoption has already occurred, Bitcoin loses most of its speculative value, which is replaced with fundamental network value. This should lead to much more stable prices that are more closely tied to actual mining revenue.