Bitcoin failed to deliver.

Laissez Faire said:
My main point in this thread is that it failed to act as a store of value, hedge against inflation and uncorrelated asset
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And I'm saying to you that BTC has destroyed inflation if you buy and held for 3 years or longer

BTC has been a great store of value for anyone who bought and held for 3 years or longer

Correlation has to the Tech stocks have been going stronger the past couple of years but it has not always been so

3 years or longer, for anything shorter, BTC is not an appropriate investment vehicle

Bitcoin is a low time preference investment asset and not a get-rich-quick investment
 
johnarb said:
And I'm saying to you that BTC has destroyed inflation if you buy and held for 3 years or longer
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So if i bought BTC for 20K in 2017 then it destroyed inflation if held till today?

Your statement is clearly FALSE
 
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johnarb said:
The price of BTC 3 years ago was $8K
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You said "3 years or longer"

"I'm saying to you that BTC has destroyed inflation if you buy and held for 3 years or longer"

And i gave you a 4.5 year period where BTC has failed to keep up with inflation, let alone destroy it.

So your statement is clearly FALSE
 
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Millionaire said:
You said "3 years or longer"

"I'm saying to you that BTC has destroyed inflation if you buy and held for 3 years or longer"

And i gave you 4.5 year period where BTC failed to beat inflation.

So your statement is cleary FALSE
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Yes, you have a point, we're currently at the bottom of an active bear market, it doesn't mean it won't go lower...

You're comparing the current price to the $20K (end of 2017/Jan 2018) was at the very top of that bull market which lasted a few days, in case you were not aware

A few days compared to over 3000 days of Bitcoin existence before that

Anyway, if BTC goes lower than $20K, I won't be able to claim that BTC is always higher than previous 3 years or longer

Nevertheless, it shows that BTC is not a get-rich-quick investment and a long-term investment

PS: BTC was $20K for less than 1 day in Jan 2018 and was over $15K for less than 2 weeks duration during that bull market cycle
 
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It was supposed to be a hedge against inflation and an uncorrelated asset class - said the
bitcoin investors, cryptocurrency IP writers
 
Bitcoin is finished, the era of low inflation that allowed the Fed to print with impunity has ended.

The Fed will eventually, one day in the future, turn the money printer back on again, but it will be too late for BTC.
 
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johnarb said:
A few days compared to over 3000 days of Bitcoin existence before that
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Oh... that's just like climate-change scientists that use data as far back as the industrial revolution. Because there was no climate or civilization before that.

Get real. 3000 days (let's call it 10 years) is not enough for a reliable 3 year (or more) cycle.
 
johnarb said:
Think of the millions upon millions of people in Lebanon, Turkey, Argentina, Afghanistan, Peru and Sri Lanka and many other countries that would have been saved had they converted everything they have to Bitcoin
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You have a point here, however, XMR is the better choice for those and other countries.
 
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