Their value is essentially entertainment-value with a dash of prestige-value, as in “I’m the only one in my office football pool who has a BitCoin Wallet.” Not all fads end quickly or fail to profit someone (think Beanie Babies). But all such fads eventually end badly for the ultimate “greater fools”. The fact that some sellers (traders, really) will accept Bitcoins is no more ... If the FED wants to inflate the dollar, this makes it more likely that people switch to Bitcoin as both a medium of exchange and store of value. And companies like E-Gov Link allow you to pay your taxes with Bitcoin. Who would there be left to hold the dollars if this continues? In the end, the only one would be banks (due to reserve requirements, the ability for the payment processors to pay ... Bitcoin has value outside of the equations above which could be considered a ‘transmissibility premium’ whereby I can send a bitcoin to a given address within a matter of hours. That’s faster than most money transfer mechanisms available to consumers. I think that alone creates a demand, even if people are mainly willing to pay that premium for illegal activities. I can still go to Gyft ... Thus Bitcoin is inferior as a store of value versus the US Dollar, the Euro, the Yen, etc. It is far more volatile versus goods and assets that one might want to buy, and goods and liabilities that one might want to fund. Now as an aside, the same thing happens in hyperinflationary economies. Merchants have to change their prices frequently, because the currency is weak. Often another currency ... the value of those wages and obligations in terms of actual goods and services •In the US, you could have effectively hedged your anticipated needs of real goods and services by saving US dollars at any time over this period. •If you had stored value in BTC during January 2014 to cover
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⚫️Robert Kiyosaki Live: Future of Crypto, Bitcoin BTC Halving 2020 Robert Kiyosaki 58,511 watching Live now Marty Lobdell - Study Less Study Smart - Duration: 59:56. Steve Waldman speaks on valuation of cryptographic assets. He helps you think how to design assets whose values, which are likely to change over time, offer the valuations and exposures you desire ...