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0 pointsanotheracctfo4y ago0 comments

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.

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2 comments · 1 top-level

mcguire4y ago· 1 in thread

I can't count how many times people have explained here that Bitcoin is a "store of value". A store of value that can be down 40% YTD is...problematic. I mean, I guess the value is still there....

timtas4y ago

Most people using bitcoin as a store of value are willing to accept volatility, given that we know for certain that fiat is a store with built-in leaks — leaks that we can all see are getting bigger and there's good reason to believe will become a sieve.

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