John Griswold
1 min readApr 14, 2021

--

I can’t tell you how many enterprises have claimed to be immune to hacks, it’s always impossible until it’s not. So long as BTC is a SPECULATIVE commodity, so long as people buy it with the expectation or hope that it will go up dramatically in value, it will necessarily and only be valued in terms of other currencies. Should BTC figure out how to effectively freeze it’s value, or at least hold that value within a narrow and predictable range, then nothing will be denominated, valued in BTC. Should BTC ever care to or manage to hold its value within a narrow and predictable range, the speculators will desert it and its value will adjust accordingly. Possibly enough people will still decide to hold their wealth in this relatively hard form to keep it viable. I doubt BTC can or will choose to be a boring “store” of wealth, if it can figure how to accrue steady and predictable gains then it will reduce its vulnerability to loss of confidence and plunging prices, but like any other commodity its value is tightly linked to human perceptions and utility value, both of which DO change over time.

--

--

John Griswold
John Griswold

Written by John Griswold

Master carpenter, watercolor artist and beat up old jock…owned by Black Lab Bo who considers two tennis balls a minimum mouthful

Responses (1)