Good read! As an investment, Bitcoin the asset is a hedge against money supply inflation, but not against CPI inflation (which lags money supply inflation by 12-18 months it seems).
But it's value as a tool for censorship-resistant transactions has only really started taking off in parts of the world where that's needed and desirable - Argentina, Brazil, Nigeria, Ukraine, Vietnam, Philippines, etc. Our payments systems in the West and in China are pretty good, but will be outcompeted over time as long as there's interested developers and passionate users.
Good read! As an investment, Bitcoin the asset is a hedge against money supply inflation, but not against CPI inflation (which lags money supply inflation by 12-18 months it seems).
view on twitter.comBut it's value as a tool for censorship-resistant transactions has only really started taking off in parts of the world where that's needed and desirable - Argentina, Brazil, Nigeria, Ukraine, Vietnam, Philippines, etc. Our payments systems in the West and in China are pretty good, but will be outcompeted over time as long as there's interested developers and passionate users.