Thread

1. pluc · 1789644117 · focus · HN ↗

   [dead]

   1. esskay · 1789644718 · focus · HN ↗

      I know you're joking but keeping bitcoin now really does feel like a poor investment given it's showing no signs of ever being revived.

      1. accountrequired · 1789645109 · focus · HN ↗

         Bitcoin died *again*? hehe :P

         1. esskay · 1789645622 · focus · HN ↗

            oh i dont think its 'dead' in the way people often describe. More...done. Like, the period of obscene growth is over and its now seemingly settled into a fairly dull investment with mediocre returns.

            1. dmantis · 1789649030 · focus · HN ↗

               Depends on the actor.

               From western perspective, maybe, but there are many people in the world who don't trust neither their government, nor western ones: Iranians, Russians, some Chinese, etc.

               BTC is a nice safe place for money, which can't be touched by neither of state adversaries. Underperforming some other asset classes is totally acceptable, when your expectation for the brokerage account is effectively zero after arrest/freeze/sanctions.

               1. eru · 1789651044 · focus · HN ↗

                  I would buy your argument, if bitcoin were the only cryptocurrency.

                  For most of the people you mention, a fiduciary cryptocurrency like these 'stable coins' is the better product.

                  (If you don't trust the value of the USD, and thus don't want a stable coin linked to that, you could use one that's linked to Swiss Franks or the Singapore dollar.)

                  1. dmantis · 1789651253 · focus · HN ↗

                     > could use one that's linked to Swiss Franks or the Singapore dollar.

                     Well, if only we had something like that with a proper liquidity!

                     USDT/USDC are useful for the exchange to fiat, but have freeze function in their contract, thus posing a risk for big longterm savings, and they rot under the inflation (which btc generally beats).

                     There are indeed a couple of unfreezable stablecoins, but they don't have mainstream adoption and proper liquidity. USDT kind of captured the market by being first, and USDC is heavily pushed by the major institutional players, so here we are.

                     But that's true, it's more about crypto in general.

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