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Dan Held Shared: Bitcoin is the best hedge against all of the chaos happening in the world today.
Community Response: I disagree. Bitcoin is more volatile than stocks and could easily lose you purchasing power overnight as we gave seen today. At least the dollar doesn’t have wild swings. You can’t rely on bitcoin to maintain its purchasing power on a short-term level. Not reliable.
Zoom out and understand the asset. We’re not talking about price volatility.
But if Bitcoin is going to be used to buy things, which it has been broadcasted by many to be as one of its properties, we cannot rely on its current short-term fluctuations. If you hold bitcoin long-term as you would most probably say yes, then, it’s trajectory is impressive.
We’re still in the SoV stage, MoE stage happens much later.
Dan. Imagine having infinite supply of dollar and also legalized short selling (which by itself is scam). You can short sell BTC forever and keep dollar attractive no matter how much you print.
Nope. That’s literally nonsense.
So, gold price is an organic movement. Short selling is literally invented to crush competitions. In any market, commodity, stocks.
Cool, but Shit Coins are a better hedge it seems.
Dan but you must realize for some, it has just lost them money.
Um I’ve been talking about Bitcoin since it was $10. Bitcoin is not a hedge, at least not yet. The trouble is, if it does become a hedge, it will be as expensive. So, it makes sense to get some now, in case it does succeed as a hedge.
No, it is already a hedge.
This may be the case when Bitcoin no longer has to rely on being converted back into fiat to complete the majority of everyday transactions.
No, it’s the case today. I agree to the point. I understand that cryptocurrencies are a very worthy investment if one does their research. My only worry is in their current state if fiat goes to crap – it won’t matter how much we have invested, because there will be no way to liquidate their value.
If that happens, I think we’ll see an extremely accelerated rate of businesses pricing their products and paying their wages in BTC. It’ll be an ugly transition and a lot of people will get hurt. But in the end, humanity will carry on.
Except an electrical grid attack. Not a good hedge against that chaos. Neither is any other asset than bullets.
Joking aside though, isn’t this where the precious metals are truly decentralized though? They aren’t 100% reliant upon a working mainframe that is arguably devised & operated by ill-intentioned men, vis-à-vis the current electrical grid.
But BTC is boring now, always bull trap. All this while prices are in freefall.
This is why it is so important for the New Year to get people “off zero” Bitcoin is the life raft in a rising sea of paper fiat. My goal is to get my family and close friends on board the arc. Watch this if you want a laugh.
What is exactly is Bitcoin a hedge for, Bitcoin is going down, sounds like Dan Held when he should have sold.
I’ve been holding for 9 years. Too bad many people can’t take refuge in that.
Almost anyone can. It’s under performing the S&P 500 ever since the chaos ensued.
It just dropped with no real reason. Imagine what will happen when there is a reason for that shit to drop. BTC is manipulated. I’m betting on other projects.
Rational bullishness, Fill, to lower the average price is not more indicative of attitude. Go trust your wallet and not the other.
Partially agree! Medium term to long term for sure. But short term it is still behaving like a risk-on asset. Bitcoin is taking steps towards becoming a safe haven asset though and might be starting to behave like that more suddenly than we think.
But all the other risk on assets is going to space. While bitcoin is basically playing wiggly-chart gold this year.
Wouldn’t say so. At least if you consider year-to-date returns Bitcoin continues to outperform the S&P 500. A different story of course when you consider the more recent uncertainty when it comes to inflation and taper.
