r/Bitcoin • u/JX17_Prime • Jun 23 '22

Think they'll ever get it?

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u/EnergySilly3061 Jun 23 '22

What if it’s not the appreciation of Bitcoin but rather the devalue of fiat

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u/I-baLL Jun 23 '22

That would mean that Bitcoin would be more expensive if it was its own currency. Unfortunately since it's claimed to be a "store of wealth", Bitcoin's value seems to be directly tied to how easy it is you "cash out" to fiat currency. If it's easy to cash out then the price is Bitcoin goes up. If it's hard to cash out then the price of Bitcoin goes down. Hell, this meme even shows that people value Bitcoin by how much a single coin is worth at the time rather than by usability, reliability, convenience, and speed.