Sure, lots of volatility. And yes, lots of manipulation. But you need to understand that when you have bitcoin that you control, there is nothing anyone can do to you. All of this will settle down at a much higher price. In the financial system, I have learned that UST's are considered pristine collateral. Nobody wants mortgage backed securities as an example. Bitcoin will be that pristine asset. But if you're not ready, buy at 100k. Or wait for 500k. I don't care.
I am not getting anywhere here. I was stating that the immutability doesn't warrant the edge loss and friction elements. Joe Blow with $800 in Chase passbook savings understands utility function as it impacts his life for the better. He says fuck your immutability. It's an answer to a question that nobody asked. We'd be Cuba and driving '57 Pontiacs w/o fractional reserve. I'm done.
That's not what I said. It is a store of value that can also be traded if that better suits your investment style. . People rarely trade items that are not of value.
Sorry, this goes over my head. The acronym in crypto world, POS, stands for proof of stake, so I keep getting thrown off since you're clearly not saying this. Maybe point of sale? I have no fucking idea. And I don't even know why you're talking about an FX hedge. We are only talking about bitcoin being an asset that is recognized by the entire world one day as the best form of asset to own. Everything else can be figured out along the way.
Ok, I see your point. So Joe is broke and doesn't want to lose his $800. But the reason he is broke is because the current system robs him. He lives month to month, can't ever save, prices out of control, and all so that those at the top can live a good life. He is a fiat debt slave. Once he learns how the FED has robbed him of his life, he won't give a fuck about his Chase passbook.
Unless you count NFTs, baseball cards and tulip bulbs, not to mention the odd stock that has gone belly up.