TomM

Why/how will the price ever stabilise? There is a fixed amount of bitcoin; it can only be deflationary. I dunno - I still can't square the circle of something whose utility is that it's a currency, but is also an investment class, which undermines its utility, and therefore undermines its value as an investment class. Fiat works precisely because it's inflationary (preferably mildly). You can't make a profit on fiat just by holding it, so its utility is never undermined.