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
So if i bought BTC for 20K in 2017 then it destroyed inflation if held till today? Your statement is clearly FALSE
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
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
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.
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.