Bitcoin is stupid, but the whole idea of crypto is not. As I said, I am expecting a massive crypto winter and something will come out of it that will sustain.
If you don't buy bitcoin, which crypto? I'm led to believe there are between 6 to 8 thousand now available. Where the hell did they all come from. Isn't this like the government printing money? For the last little while cryptos have been losing value compared to fiat. Is this because there are so many being printed/mined/or pulled out of the air.
You're going in a different direction, but let's walk through it Bitcoin's value is universal Let's say Turkey Lira was 1 Lira to $1 and now 13 Lira to $1 in ten years 1 Btc would now be worth 546,000 Lira US $ purchasing power remained strong and Bitcoin purchasing power increased Why is it so difficult for you to understand the concept of store of value? Gold has been a weak store of value but it would have done ok versus holding Lira or any of those failed fiat currencies
The BTC is not a universal value, because it must be compared to fiat. You just said it yourself in that post. The BTC has no value unless it is equated to fiat. Let's say the 1 BTC is equal to 1 Lira. How does that work? How many BTC do I need to buy a loaf of bread in Turkey? How many Lira is needed to buy a loaf of bread in Turkey, RIGHT NOW. Or even better, a gallon of gas? How many BTC do I need? Well, if it is same as Lira, then I guess it is cheap!
Brother, 1 btc is not equal to 1 Lira If you want to sell me 1 btc for 1 Lira, I'll take as many as you can supply
From the World Bank: El Salvador ranks 124th among 189 countries in the Human Development Index.[28] Despite high rates of poverty and gang-related violent crime, El Salvador has the second-highest level of income equality in Latin America.[29] Poor Americas