Why saving in Bitcoin makes sense: Bitcoin increases rather than decreases in value, has no counter-party risk, and it makes perfect sense in the information age. Why not save in bitcoin?(...) Unparalleled intrinsic value, the network effect, the first-mover advantage, and the self-interest of its participants. Dollars, gold, and alt-coins don’t stand a chance. (...) You have to be crazy to save in dollars. Banks can and do freeze and confiscate dollars on a regular basis. They place subtle capital controls on your wealth preventing you from choosing who you transact with. The Federal Reserve (and corresponding central banks for other fiat currencies) prints spectacular amounts of dollars every month with no end in sight. The incentive structure and lack of limits on supply of fiat currencies guarantees their destruction, which is why every fiat currency ever has been debased to nothingness, except the ones in the process of being destroyed. Bitcoin might go to zero, but the dollar is definitely going to zero. (...) You can influence the course of events by choosing where you save. By saving in dollars, you preserve a broken and obsolete system. By saving in gold, you preserve nostalgia for a history that is never coming back. By saving in bitcoin, you build the future. You also join a rocket to the moon. (Ryan X. Charles, Bitpay) https://medium/p/9112bbfd40dc
Posted on: Thu, 31 Oct 2013 11:04:47 +0000
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