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Board Bitcoin Discussion
Re: Bitcoin Is not an inflation hedge in first place
by
aawalker
on 04/07/2022, 22:54:40 UTC
Quote from: TheNineClub on Today at 03:25:04 PM
Quote from: Cryptornd on July 02, 2022, 10:42:34 AM
Bitcoin was never supposed to be an inflation hedge in the first place. That was an idea built by influencers and speculators in the last years. What Bitcoin was supposed to be and is now becoming is a P2p uncontrollable payment network across the globe.
West world uses it as an investment. Poor countries use it as money, as it was designed. The Lightning Network is dealing with the scaling problem BTC was facing mainly since 2016/17 though it processed slowly far today. countries adopt it you can see clearly ( El- salvador )

The lightning network is the solution to the money problem & scalability problem which world is being faced at the moment. Bitcoin is the solution to the money problems not mainly to the inflation problem.

YES! Finally, someone pointed out what the initial use and idea of BTC was. The laser-eyed when Lambo idiots are giving BTC and crypto a bad name. And it just makes it look like it's a Ponzi. And not to mention the unnecessary forcing of mass adoption just so people can see their portfolio rocket to the stratosphere. This is going to shit really fast...

P2P electronic payments for developing countries with unstable fiat currencies is a good use case for BTC. But for the developed world, and the majority of people in the world, BTC is better suited as a frictionless reserve currency, or a store of value than anything else. VISA already solved the scaling problem without the need of any L2 solution. Plus, BTC's depreciative nature disincentivizes its use as currency and incentivizes HODLing.
It's okay for BTC to deviate from the founder's original goal, things change.
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Board Bitcoin Discussion
Re: Bitcoin Is not an inflation hedge in first place
by
aawalker
on 04/07/2022, 22:45:54 UTC
If Bitcoin is a hedge against inflation, then why does its price plummet when the Fed announced high interest rates?
Clearly at the current moment it is not a hedge--it is primally an asset in the same way a stock is, and its used as a speculative investment--that's why its price is highly correlated with the stock market. Could this change in the future? Maybe. But what would prompt that?