I guess people do look at certain cryptos, that are in fact completely centralised and probably no different or perhaps even worse than holding fiat currency, and confuse them with bitcoin, which is probably the most decentralised and most practical cryptocurrency at this stage.
A lot of these cryptos, including state issued ones, don't offer the 'traits of money' that are listed here for bitcoin at all. If the supply or issuance of a token is centralised, or a single party holds ultimate control over a certain project, it's really no good as currency at all.
It should be quite obvious to any even marginally experienced bitcoin user to realise the benefits of bitcoin, at this stage, compared to fiat currencies though. Its irreversibility, its decentralisation, and the fact that it exists natively to the virtual world all mean that it is a great form of money, or at least a very convenient long term store of value.
Long term store of value,
Yesterday $20k (fiat), tomorrow $100 USD (Fiat), so I lose say 99% of my wealth by holding BTC for 1-2 years, and with a straight face you call that a 'long term store of value'
Seriously are you bat shit crazy? Or do you think its "coming back"? NOT
You disregard math and
common sense to make a negative point? Good for you...
The 5, 4, 3 years of storing fiat into bitcoin had 10-1000% returns on the amount people buying bitcoin could remove later via fiat.Some hold a
new asset class like that, some will want to come back in the next dip and
take profit.
Imagine if people bought with only the intention of offsetting inflation. Bitcoin
could be the greatest store of value around today.
Now that hedge funds are playing around, it's just part of buying bitcoin that you need a comfortable dip to purchase and hold.