I think, whether it’s helpful is an individual decision. E.g. for people in Turkey, it’s a lot more stable than their own currency. Same logic for probably dozens of other countries…
Maybe, it’s not useful for you, but that’s OK. No one is trying to replace your currency with it and force you to use it.
Turkey’s currency dropped 83% in the last 5 years and 94% in 10 years (per USD). And by the way: It dropped and did not rise the same amount ever again…
Why can’t we just agree that different people might have different views whether it’s useful for them?
Is it more stable compared to USD? No.
Is it more stable compared to dozens of other currencies? Yes.
I think, there are very good arguments against BTC, for example the energy consunption… But whether it’s too risky for you or not… That’s highly subjective IMO. There is no country on this planet with only BTC as official currency. So, no one is forced to hold 100% of their total money in BTC.
This is like saying “laws aren’t always enforced equally, so we should have no laws whatsoever”. Bitcoin is not a helpful response.
I think, whether it’s helpful is an individual decision. E.g. for people in Turkey, it’s a lot more stable than their own currency. Same logic for probably dozens of other countries…
Maybe, it’s not useful for you, but that’s OK. No one is trying to replace your currency with it and force you to use it.
Bitcoin’s “value” in USD terms has dropped ~20% in the last few days, so I’m not sure we can call it ‘stable’
In 1998 the USD fell like 20% vs the yen, currencies don’t always stay the same value vs. other currencies
Bitcoin regularly loses 85% of its “value” vs USD
85%
This has happened multiple times
Turkey’s currency dropped 83% in the last 5 years and 94% in 10 years (per USD). And by the way: It dropped and did not rise the same amount ever again…
Why can’t we just agree that different people might have different views whether it’s useful for them?
Is it more stable compared to USD? No. Is it more stable compared to dozens of other currencies? Yes.
I think, there are very good arguments against BTC, for example the energy consunption… But whether it’s too risky for you or not… That’s highly subjective IMO. There is no country on this planet with only BTC as official currency. So, no one is forced to hold 100% of their total money in BTC.
The swings were bigger when the market cap was smaller, this is usually the case. The market cap of the yen is much bigger still.