Comment by jmyeet
You've described an asset not a currency and sure, your asset will keep going up forever like so many assets before it, famously.
You've described an asset not a currency and sure, your asset will keep going up forever like so many assets before it, famously.
That changes nothing. And you can use it as a currency. Declaring it an asset is irrelevant. You can call Bitcoin a cryptocurrency, an asset, a currency, a scam, it doesn't effect Bitcoin in any way. Bitcoin doesn't care. Its sole purpose is as an incorruptible, debasement and censorship resistant ledger native to the public internet.
Of course this all redefines exactly what a currency or an asset IS. Is Gold a currency? Is it an asset? is it both? Its semantics. Both gold and bitcoin can be exchanged for goods and services.
Most assets will not keep going up forever in Bitcoin terms. Maybe no asset will, on long enough time scales. Most assets are plummeting in price considerably in Bitcoin terms. Today it takes 6-figure units of dollars to buy one unit of Bitcoin. On to 7 and 8, and more. Eventually, you will not be able to exchange ANY amount of fiat for Bitcoin.
You are free to ignore Bitcoin for then next 10 years, like most folks on HN have done for the past 10.