this post was submitted on 07 Jul 2024

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So much for Blockchain's real life use cases (lemmy.ml)

submitted 4 months ago by whydudothatdrcrane@lemmy.ml to c/memes@lemmy.ml

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[–] makeasnek@lemmy.ml 3 points 4 months ago

Bitcoin has collapsed like three times in the last like 7 years dawg.

If you bought 1 BTC 15 years ago, you still have 1 BTC. It has not collapsed. The price relative to USD has collapsed a few times, but the average trend is growth. Bitcoin does not guarantee any price relative to any other currency, because it can't, all it can guarantee is a stable supply of currency. The USD, in that time period, has lost >20% of its purchasing power as well, so the USD also "crashed".