Bitcoin Delight

[chuckChuck]

PP out of his depth!

[AlbertaFarmer5]

A poster here was claiming that cryptocurrency hadn't protected Canadians from inflation.
So I checked.
Since Pollievre's statement in March of 22, a Canadian invested in Canadian dollars has experienced 12.6% cumulative inflation vs a basket of goods.
A Canadian invested in bitcoin has experienced 266% deflation vs the CAD.
Or only 236% deflation vs the same basket of goods.

[kANOLA]

Very well explained A5 , but CC might need more help.

[sumdumguy]

Polly for King!

[biglentil]

Fartcoin far out performing the Canadian loonie.

[chuckChuck]

So how much did you guys invest in bitcoin then after PP told you what a great hedge against inflation it was?

I cant wait to hear how confident you were to put lots of your savings in and what the results were?

[AllisWD45]

You first where do you invest?

[chuckChuck]

As I thought most of you are all hat and no cattle when it comes to bitcoin!

[cropgrower]

do you actually think we would tell you what we do with our money cc ? you will be a long time waiting thats for sure

[chuckChuck]

I think the real reason is you don't have any bitcoin!

Even though you say its a great hedge against inflation!

You got any or not Crop?

[AllisWD45]

Again you first.

[TSIPP]

As I thought most of you are all hat and no cattle when it comes to bitcoin!

Got cattle and no hat, cows are better than bitcoin!

[TSIPP]

Even a tough old bull I can eat, not sure about eating bitcoin….

[AlbertaFarmer5]

I have no hat, no cattle anymore, and no bitcoin.

Ultimately, I think Bitcoin is a hedge against inflation and possibly a hedge against CBDC/governments controlling access to our bank accounts as has already happened right here in Canada.

As a farmer, nearly everything I own is already a hedge against inflation. Commodities and farmland, don't think I need any more exposure to inflation hedges.

Goes without saying that Bitcoin has far exceeded both of those,

At these valuations, either Bitcoin is pricing in a complete collapse of fiat currency, or else it is a speculative bubble/FOMO.

Other reasons might be the weaponization of the US dollar reserve currency forcing sanctioned parties to use Bitcoin as an alternative for international trade. Or the fear of CBDC.

Maybe if I was all tin foil hat and no cattle I might have a different opinion.

[chuckChuck]

Again you first.

I have no bitcoin and lots of other types of investments including farmland.

So who is going to step and say they have bitcoin? All talk but scared to actually invest?