Quote from: fuguebtc on February 28, 2025, 09:42:55 AM

But Bitcoin was created by Satoshi to be and be used as a peer-to-peer currency, he didn't create it to be a speculative asset. And whether speculative assets can survive an economic collapse remains a question.

People keep bragging about bitcoin surviving the covid pandemic but bitcoin is not the only asset that can do that. The stock market also stood firm against the covid pandemic and especially gold, gold even increased strongly before and during the pandemic. Meanwhile, stocks and bitcoin only grew after the government pumped money into the economy to save it. This makes me wonder, if an economic crisis happens and the government doesn't pump money, what will happen to bitcoin? But with gold, the price will go up regardless of whether the government is pumping money or not.

The people who think that bitcoin was created in 2009 because of the 2008 crash have absolutely no idea about the background of bitcoin at all. First of all, it was shared way earlier than that, it was shared as a paper in 2008 itself, secondly, satoshi wasn't like some new character, we have seen his name before, he was working on it, plus there were attempts of creating a bitcoin type of digital money way before that too, even as early as 90's I believe.

So, it had nothing to do with the crash itself. Sure you could say that the idea of banks collapsing but government saving them, while all the people became homeless and they didn't get any help is the main reason because we wanted a decentralized currency, but that was as a concept.