Comment by efeqasfcadvxcv
13 hours ago
Rethink your ideas, you are very wrong here.
It is a fantastic escape from debasement of fiat, and always has been an escape from the perils of fiat currencies. It was created for this very purpose in 2009, and has absolutely achieved this goal. A 2019 $ vs a 2025 $ are significantly different purchasing power. Yet a 2019 BTC vs a 2025 BTC shows remarkable capital appreciation. You can pick any time scale you like, and except for very specific edge cases, it has in general been a great hedge against debasement of fiat, and will continue to be.
I have been able to preserve the purchasing power of my savings for over a decade now, and still keep buying every week.
Why would this be any different the next decade? (beyond the attenuation effect from more capital flowing into the space?).
You've described an asset not a currency and sure, your asset will keep going up forever like so many assets before it, famously.
That changes nothing. And you can use it as a currency. Declaring it an asset is irrelevant. You can call Bitcoin a cryptocurrency, an asset, a currency, a scam, it doesn't effect Bitcoin in any way. Bitcoin doesn't care. Its sole purpose is as an incorruptible, debasement and censorship resistant ledger native to the public internet.
Of course this all redefines exactly what a currency or an asset IS. Is Gold a currency? Is it an asset? is it both? Its semantics. Both gold and bitcoin can be exchanged for goods and services.
Most assets will not keep going up forever in Bitcoin terms. Maybe no asset will, on long enough time scales. Most assets are plummeting in price considerably in Bitcoin terms. Today it takes 6-figure units of dollars to buy one unit of Bitcoin. On to 7 and 8, and more. Eventually, you will not be able to exchange ANY amount of fiat for Bitcoin.
You are free to ignore Bitcoin for then next 10 years, like most folks on HN have done for the past 10.