The hardest money which by matter of fact highly correlates with equity markets for years now? Every time the stock market tanks your bitcoins lose value. I don't call that hard money but a speculative instrument that becomes more and more highly correlated with broad based equity indices.
In the short term, Bitcoin is correlated with all risk investment assets The same types of investors are invested in the stock market, real estate, and Bitcoin Look at what happened in March 2020, Bitcoin lost half of its value in a short time during liquidity crunch But if you believe in Bitcoin long term, you will have no worries, that is why I said hold for 5 years, then check the price, and then hold again for another 5 years if I'm correct and Bitcoin is over $500K each Bitcoin went from $3,200 in March 2020 to current price is over $46,000 Did the stock market go up by that much?
Ever tried to cash a cheque drawn on a Canadin bank in the US. (Even if it's a US dollar account) Especilly if it's a regional bank.
I don't believe in bitcoin in the long term. I have not seen a single fact based argument that would change my mind. But I respect your different position on this.
Why would I deal with a cheque? If I wanted to send money to the US or to any other country in the world I would click on the "global transfer" button of my bank mobile app and transfer the funds commission free instantaneously.
I appreciate the discussion and I respect your position even if it's counter to mine on Bitcoin Which is why I offered the books that I mentioned as English is my 2nd language and I don't have the formal education in economics (Saifedean Ammous has a PhD in Economics) Layered Money (I've only started reading it) has framed it well in the same way as The Bitcoin Standard did in the first 7 chapters We used seashells, rocks, and precious metals, cattle, as money throughout history, but even Gold coins were debased by the ones in charge due to the temptation that the ones in charge of money cannot resist from stealing from the population When sound money (Florin) was available for people to store their wealth and work and efforts, then major innovations came with it
Your points are my main arguments against bitcoin. All previous payment methods failed until a solid fiat monetary system was founded. It works even if the anarchists want to make us believe otherwise.
Bitcoin is too volatile to be used as currency as you can see on the video of the reporter in El Salvador who put money into the Bitcoin wallet and it kept appreciating in value even as he was spending it In Turkey, Argentina, Palestine, Asia, Dubai and other places, they use stablecoins more as payment method, however, they use Bitcoin as savings/investment asset
Nobody in Asia uses crypto currencies other than for pure speculation and experimentation. How I know? I lived in multiple parts of it half my life.