Some things you shouldn't use Bitcoin for: * Emergency cash reserve * Save to buy a Lambo next year Some things it can be reasonable to use Bitcoin for: * Protection from political risks * As part of balanced portfolio, save for >4 year goals e.g. retirement, education, legacy
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Replying to @NickSzabo4
The first part was good, the second part was crap.
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Replying to @NickSzabo4
Bitcoin isn't for paying for college. And recessions cause the price of all speculative assets to drop. Bitcoin is supposed to be money to replace fiat, and it can't be a reliable store of value until after it does that.
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Replying to @cryptacritic
Bitcoin's fundamentals favor it in recessions that threaten major financial company failures or repressive reactions (e.g. capital controls, haircuts or negative interest on savings). In milder recessions exit of short-term speculators as you cite may outweigh such fundamentals.
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Replying to @NickSzabo4
No it doesn't. You're insane. The next recession is probably a few years away, and BTC still has a higher inflation rate than the US Dollar. Its also not expanding as a cash usecase.
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When ya reach the limits of your knowledge ya gotta start with the random insults I see. Blocked.
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