> That doesn't guarantee anything, but in the old days when the global reserve currency started to become frankly inflationary, there was no easy recourse - you could only jump to the next best national fiat (which could have the same problems or worse), or gold (with all of its limitations). Now, due to bitcoin, an alternative exists.
Or you just buy assets priced in dollars; bonds, real estate, equities, etc. Nobody with half a brain holds their wealth in currency. Currency is for transacting, not storing wealth.
> People on HN are smarter than me, and they all seem to hate bitcoin with passion, but I haven't yet understood why.
See above and below.
It has 0 intrinsic value. It also has no cash flows. The only “value” it has is speculative.
Or you just buy assets priced in dollars; bonds, real estate, equities, etc. Nobody with half a brain holds their wealth in currency. Currency is for transacting, not storing wealth.
> People on HN are smarter than me, and they all seem to hate bitcoin with passion, but I haven't yet understood why.
See above and below.
It has 0 intrinsic value. It also has no cash flows. The only “value” it has is speculative.