> The whole point of bitcoin was to decouple currency from institutions (banks/governments etc.).
This may have been the goal, but if so, it's implementation was bad. The value of a bitcoin steadily appreciating as time marches forward gives it the properties of an asset, not a fiat currency [1].
Like a currency, there is a trading market that forms around the asset, but as fiat currency tends to slowly depreciate over time, it leads to much more fluidity.
This may have been the goal, but if so, it's implementation was bad. The value of a bitcoin steadily appreciating as time marches forward gives it the properties of an asset, not a fiat currency [1].
Like a currency, there is a trading market that forms around the asset, but as fiat currency tends to slowly depreciate over time, it leads to much more fluidity.