Corey’s Kindle Notes & Highlights

A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing, by Burton G. Malkiel

It is the extreme volatility in the value of the bitcoin that makes it fail the second and third common definitions of money. An asset that gains and loses a substantial percentage of its initial value each day will serve neither as a useful unit of account nor as a dependable store of value. It is in this volatility that the peril of the bitcoin resides.

28 May 21 · Flag

Isaac Nichols

I don't buy this argument... history has demonstrated that plenty of government currencies around the world have achieved hyper inflation or have become worthless. If bitcoin (or some other crypto cur…

28 May 21 · Flag

John Bravenec

I think you proved the point -- currencies with hyperinflation cease to become stores of value.

28 May 21 · Flag

Corey

The relative stability of the dollar is what enables it as a reserve currency. As a holder of currency, I want to have some certainty that my 1 unit of currency can be traded for X goods tomorrow. Its…

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