Post
Topic
Board Speculation
Re: The financial markets are starting to crash, abandon the fiat titanic
by
nuff
on 12/10/2014, 15:59:51 UTC
Looking forward to seeing how bitcoin market does on a stock market crash.

The debt ceiling drama is coming this March, after they postponed it last year. So there should be some good ingredients for a nice panic stew.

Bitcoin is not money nor a store of value.

Even if Bitcoin goes to $10'000, it will only ever be a means of making payment (in fiat currencies).

If the markets collapse then Bitcoin goes down with it. It's that simple.



Wrong. Bitcoin is or can be money (it's fungible, transactable, and has a value). But to me Bitcoin is more an asset, a store of value, rather than a currency. Bitcoin is entire independent, if bitcoin were to be affected by external markets that's only because the people thought it to be. But by its very nature, Bitcoin is absolutely independent and decentralized.