On: JPMorgan CEO Jamie Dimon says Bitcoin is a fraud that will eventually blow up

[mrb]

Who said stable? Many fiat currencies are unstable and/or have very high inflation: https://en.wikipedia.org/wiki/List_of_countries_by_inflation...

[nwah1 → mrb]

Bitcoin has larger price fluctuations than any country on that list, except Venezuela.

[mrb → nwah1]

For hedging against fiat currencies, short-term price fluctuations are irrelevant. Long-term price trend is what matters, and Bitcoin gained 4×/7×/18×/32× over the last 6/12/24/48 months, far beating the inflation of all world's fiat currencies. Also note that volatility is quickly decreasing: https://twitter.com/lsukernik/status/864920873718951937

[lxm → mrb]

Those same countries will also have exchanges with huge spreads or money transmitters charging exorbitant fees for converting in and out of bitcoin.