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Anonymous
Would bitcoin be a good hedge towards inflation? since it basically goes against the concept of inflation
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Hi anon, I wouldn't say buying crypto is investing. In my opinion, it's more of speculation since it's hard to value it.
Benjamin Graham once defined speculation as:
“Speculative operations are all concerned with changes in price. In some cases the emphasis is on price changes alone, and in other cases the emphasis is on changes in value which are expected to give rise to changes in price. I think that is a rather important classification of speculative operations.”
The monetary value assigned to a cryptocurrency depends entirely on the ability to sell it to another person at a higher price in the future, much like a greater fool theory.
Having said that, I do like the technology behind crypto, which is blockchain.
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