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0 pointsmattwilsonn8884y ago0 comments

Says a lot about this site's bias that this even needs to me said (how under a rock do you have to be not to know the macro crash happening right now isn't localized to crypto?). Your comment should either be so obvious that it isn't necessary or so obvious that its the top comment.

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5 comments · 1 top-level

jjeaff4y ago· 4 in thread

I thought crypto was supposed to be a hedge against the markets.

JumpCrisscross4y ago

> thought crypto was supposed to be a hedge against the markets

This made no theoretical sense from the start and has been quantitatively untrue for years.

anotheracctfo4y ago

More goalpost shifting. I've been hearing "Bitcoin is the new gold" and "Bitcoin is a hedge against inflation" since the beginning.

Gold is down 2% and Bitcoin is down like 30% or something.

Also please keep in mind this isn't Reddit, this is HN. The people here were there right at the beginning, and most of us played with the funny money while it was worthless. Some even became rich (Not me lol)! So don't fucking gaslight HN.

The crypto believers told me US dollar would enter hyperinflation very soon and Bitcoin will be the only viable currency because it has a finite supply.

mattwilsonn888OP4y ago

"The Markets" aren't what's causing a downturn in "the markets" or in crypto. The Federal Reserve's monetary policy has a direct effect on the price of everything.

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