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If put you on a lost island and give you a Tesla, what value is that to you?
BTC has value because the USD and all other fiat currencies are melting. By the time the masses realize this, their purchasing power will be wiped away by the tax called inflation.
I think most people realize that inflation has been going on in the whole world for a very long time. But most people also will not be using Bitcoins as a substitute anytime soon. And very possibly never. In parts of the world where the sovereign currency is very inflatable, or not desired for what ever reason, it may of course have some use.
I think most people realize that inflation has been going on in the whole world for a very long time. But most people also will not be using Bitcoins as a substitute anytime soon. And very possibly never. In parts of the world where the sovereign currency is very inflatable, or not desired for what ever reason, it may of course have some use.
You’re right. And most will have their savings wiped out. Nothing more, nothing less.
Housing prices in gold (or rice) haven’t gone anywhere. It’s just the USD melting before our eyes. If you understand why countries HAVE to inflate, your only question has to be, how do I protect my savings.
You’re right. And most will have their savings wiped out. Nothing more, nothing less.
Housing prices in gold (or rice) haven’t gone anywhere. It’s just the USD melting before our eyes. If you understand why countries HAVE to inflate, your only question has to be, how do I protect my savings.
In my life stocks have paved the way ahead of inflation since the late '70's.
You’re right. And most will have their savings wiped out. Nothing more, nothing less.
Housing prices in gold (or rice) haven’t gone anywhere. It’s just the USD melting before our eyes. If you understand why countries HAVE to inflate, your only question has to be, how do I protect my savings.
Bitcoin owners sitting on huge profit may want to use it to pay down mortgage,car payment,cc debt.
Whether it goes up more or go down,you will have a place to live with no mortgage,a car which runs with no repo man coming after you and spare cash to hoard your daily needs-toilet paper,grocery,or buy a bunch of debit/gift cards which have no expiration date.
But then there is IRS,your capital gains are taxable
In my life stocks have paved the way ahead of inflation since the late '70's.
Things have changed drastically since the 70s. Debt to GDP is much higher. I don't expect this to be true in the future.
Quote:
Originally Posted by mojo101
I would think if Fed is tightening,Bitcoin should go down ,not up,BUT??
How does rising inflation affect Bitcoin?
Fed tightening would be diss-inflationary (meaning a slowdown in inflation from ~12+% to 5%). That doesn't inherently affect bitcoin; it just slows down rate at which the USD melts away.
Quote:
Originally Posted by mojo101
Bitcoin owners sitting on huge profit may want to use it to pay down mortgage,car payment,cc debt.
Whether it goes up more or go down,you will have a place to live with no mortgage,a car which runs with no repo man coming after you and spare cash to hoard your daily needs-toilet paper,grocery,or buy a bunch of debit/gift cards which have no expiration date.
But then there is IRS,your capital gains are taxable
Smart people won't do that. They will take loans against their appreciating BTC in depreciating USD (with BTC as collateral). No smart person is selling this finite resource. I get excited when the price crashes and bored when it soars. I want to buy BTC at cheap prices
More money has always been good for inflating the value of stocks.
Correct....the nominal value.
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