But if Ether’s a security, that means it’s been operating as an *unregistered* security. That doesn’t bode particularly well for Ethereum, does it?

You know what’s not a “coin toss” or a “gamble”? Just dollar cost average into Bitcoin. Buy a set amount on whatever schedule you want — every month, week, day, whatever. Set it, forget it, and wake up in a few years with incredible returns. Don’t trade, don’t try to time the market, just acquire the hardest asset…

No one is advocating for “inducing” deflation — just letting nature take its course. And no one is advocating we contract the money supply. I just would rather we didn’t inflate it, either. A bitcoin standard will accomplish that.

Deflation is commonly defined as the general reduction of prices across the entire economy, but the term does not necessarily imply any particular cause. It could be caused by a drop in demand OR because of innovation OR because the money supply decreased. This is fairly uncontroversial, as far as I can tell. But…

Innovation causes prices to fall, which in turn increases the buying power of the currency. If that’s not deflation, then you need to offer your own definition of the term, because you and I might be from different universes.

Just because something has a volatile price doesn’t mean that it’s not useful. Bitcoin is volatile because the market is in the process of figuring out (and yes, speculating on) just how useful it is. Bitcoin is a groundbreaking, paradigm-busting innovation, so it makes sense that it would take a while for that price…

And yet, the Gold Standard didn’t give us the Great Depression or the Great Financial Crisis, did it? Anyway, there are limits to the comparison of Bitcoin with gold. Bitcoin really is far superior. I can’t wait for the Bitcoin Standard!

Unfortunately, your perspective is limited to the fishbowl you’re swimming in. Deflation IS the natural state of a free market. We get a glimpse of it when looking at the prices of TVs and computers; their prices have been falling for decades, and yet those industries haven’t collapsed. In most of the economy, the…

Markets naturally coalesce around a single (or at least, a dominant) standard. It happened during the gold standard era, and it happened again under the dollar. Maybe you don’t think Bitcoin is going to be that standard (I think you’re wrong), but it’s silly to pretend that no standard will ever emerge. You’re right…

Bitcoin was the best performing asset of the last decade. It has literally outpaced inflation better than anything else. Sure, you can cherry-pick time periods when it lost value, but you can do that with any asset.

Deflation is the natural state of a free market (h/t Jeff Booth), and it’s only a problem if your currency is dependent on debt. In a free market, price decreases are allowed to flow to all participants, instead of being gobbled up by governments and central banks with money printers. If you like having your…

I don’t think Mr. Novak has looked very hard for Bitcoin’s “convincing use case”, but for anyone interested, here it is.

Bitcoin isn’t a currency at all, because it’s not a liability. It has no counterparty. Like gold, it needs nothing to back it. It is money. In fact, it’s the most perfect money ever invented.

Ok, here it is, everybody. Ready? The thing that Bitcoin is good for...

Mr. Novak, what a worthless opinion piece. There are some that spent the last two years actively learning about Bitcoin so that they could actually express an educated opinion about it. You, on the other hand, put the topic comfortably out of mind until recent events finally shook you out of your stupor. Bitcoin’s not…