Fiat essentially means by decree (as in the law says this is legal tender). Since bitcoin is actually outlawed in some regions, its the opposite of fiat. Also, since there are a limited number of outcomes to the computer formula used to mine bitcoin, it is also free of inflation. THAT HAVING BEEN SAID: beware of any commodity whose value is entirely perception based. If it doesnt have any real-world usefulness, chances are its a Ponzi scheme at worst and a stock bubble at best. I own some bitcoin myself, as for me what real value there is is in discretion. It might be nice to make a discreet digital transaction or two in a shit hits the fan scenario. In conclusion, bitcoin serves a purpose and it cant hurt to buy in when the price drops. But if you really want to hedge against inflation and store the value of your dollars, my personal recommendation would be to invest in physical silver. And hide that shit well. #agora #countereconomy #vacatewallstreet #silver #BTC
Posted on: Fri, 21 Mar 2014 21:06:07 +0000
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