While it's true that a currency like the U.S. dollar has lost its value considerably over time, it's also true that there is some level of predictability in this over long periods, and that short-term fluctuations actually work to the detriment or the benefit of an American citizen (think of someone paying off a 30-year fixed rate mortgage at 5% if inflation is at 8%).
For anyone who really thinks Bitcoins are a legitimate currency, I'd ask a simple question: Would you ever take a job with an employer who paid you in Bitcoins?
>>For anyone who really thinks Bitcoins are a legitimate currency, I’d ask a simple question: Would you ever take a job with an employer who paid you in Bitcoins?
If I wanted to do the job, sure. If I didn’t, no amount of currency would get me to do it. Job satisfaction isn’t only about the money.
Part of the problem in any discussion of the US Dollar, Euro, Bitcoin, etc. is basic concepts. Money & currency are not the same things. There is a similar problem with Media conversations about government/country/nation. They throw those terms around too as if they are interchangeable.
Bitcoin is closer to a currency than it is to “Money”. Money has to be a store of value. Currency can stand in for money as a medium of exchange.
Paper money is currency. The US Dollar — when it was backed by Gold & Siver — was real Money. Now it is “Fiat Money”.
When you see people advocating bitcoin, they mention “buying some bitcoin”. That is investment, not a term of money. You don’t “buy” money. You use it.
Nobody is concerting their life savings to bitcoin.