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0 pointsdmitriid5y ago0 comments

> It's an efficient store of value. Here is a dilemma - you have 10 million dollars

It's not a dilemma. At all. If you have 10 million dollars just lying around, chances are, uo already know what to do with your money.

So your entire premise is based on a combination of assumptions that make it entirely laughable:

- that if you have 10 million dollars, you have a problem with storing them

- that in order to defend bitcoin you have to come up with an example involving no less than 10 million dollars

> Do you buy gold? Gold is useless. Buy stocks? How do you pick them? Of course USD is going to deflate.

Ah, I feel so sad for people who have 10 million dollars which they have to just "park". How did they ever manage to do that in the past?

Oh, right. Stocks, property, securities, bonds, investments, diversified portfolios.

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4 comments · 2 top-level

leesalminen5y ago· 2 in thread

> Oh, right. Stocks, property, securities, bonds, investments, diversified portfolios.

As the parent poster mentioned, the US’ monetary policy is awful and many believe is on the brink of major problems.

China’s financial reporting is untrustworthy- you never know what you’re getting investing there.

EU is in the middle of brexit, financial crisis in member nations.

So, yeah, some new alternative financial instrument seems attractive to me.

dmitriidOP5y ago

> As the parent poster mentioned, the US’ monetary policy is awful and many believe is on the brink of major problems.

Ah yes, "the brink of major problems". That's the undying adage of USSR and later Russian news programs. "Dollar is on the brink of collapse".

> So, yeah, some new alternative financial instrument seems attractive to me.

How can one forget, that these crises are unique, are happening for the first time ever, d no one in the history in the world ever had 10 million dollars before, so they have no idea what to do with this money.

leesalminen5y ago

I don’t think the USSR existed during a global pandemic. In fact, I would posit that the globalized nature of our economy adds a new twist to any pandemic that has come before. I don’t think the absoluteness of your position is warranted.

As you mentioned in another reply- diversification of ones’ portfolio is important. I, and most people, would never put all their money into BTC or crypto in general. That would clearly be a bad decision. But, why _shouldn’t_ I put <10% of my portfolio in a new asset class that has growth potential? Many people put 10% of their portfolio into all kinds of crazy things.

dang5y ago

Please don't take HN threads further into flamewar.

https://news.ycombinator.com/newsguidelines.html

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