Gold tends to go up when there are concerns about the economy, inflation, etc, what will bitcoin do? I see arguments both ways. Up: it's like digital gold, not subject to monetary policy, so it will go up as a safe harbor against inflation Down: it's a highly risky investment, in a crisis investors become risk averse and will dump it in favor of safer assets
I’d like to think it’s uncorrelated but this year it seems to be somewhat correlated to US markets.
It depends on what the crisis is. Bitcoin will go up if the problem is the valuation of the dollar. In a recession, everyone loses.
I agree with this. In a recession, people need to pay their bills still - and not in bitcoin. If this is a hyper inflation issue like you said, people are going to gtfo of the dollar. Bitcoin might be one of those ways.
Don't forget why people went to gold and silver in a financial crisis in the past. There have been times here in the states and in many areas of the world when the crisis gets so bad cash is nearly worthless or there are runs on the banks and you can't get cash. Those who have gold and silver can continue to buy goods and survive. In a severe worldwide crisis, bitcoin will be worthless. With gold, you can scrape little bits off onto a scale at a store or use small silver coins.
Tech Industry
Yesterday
995
So hard being a women in tech industry
Tech Industry
2d
51614
Goog Employees Arrested
Tech Industry
Yesterday
2721
Go woke, go broke: Google fires 28 employees involved in pro-Hamas protest
Software Engineering Career
4d
33371
Offer Evaluation: Meta v NVIDIA v Coinbase
2024 Tax
Yesterday
2545
Biden’s new tax proposal is wild
I am not quite sold on the "digital gold" theory yet. Bitcoin itself can be duplicated with little or no modification, as in the case of litecoin. As long as coins can be exchanged, and they will be, that is basically unlimited supply.
This sounds wrong. Can you elaborate on what you mean by duplicated?
Like forking (Bitcoin cash) or some small changes (litecoin) or even simply taking whatever protocols Bitcoin has then rename &start a new coin.