[mdgrech23]

this isn't why people buy Bitcoin. they buy it b/c they don't have confidence in the power of the US dollar or want to hedge their bets. It's the equivalent of gold, that is people turn to it when they think shit may hit the fan but it doesn't have the downsides of physically holding gold.

[jsheard]

> don't have confidence in the power of the US dollar

Whenever the US stock market slumps, doesn't Bitcoins price usually slump too in almost perfect lockstep?

[jcfrei]

Yes, bitcoin effectively trades like the 3x leveraged nasdaq indices (TQQQ).

[insane_dreamer]

> they buy it b/c they don't have confidence in the power of the US dollar or want to hedge their bets

no; they buy it b/c they're attracted by the fantasy of a 100x return like some people got in the past. there are no solid correlation patterns with the USD or other currencies/ stocks, unlike, say, gold

[kmeisthax]

No, people buy Bitcoin because line go up.

[t0bia_s]

BTC ignores inflation. Thats enough for saving for retirement.

[hanniabu]

Except that Bitcoin isn't long term sustainable due to its security budget crisis that will rear its head in ~8-10 years.