My Rejoinder to: "Bitcoin is a bubble, a way to speculate and not the future of money" by Vivek Kaul (14th January, 2021)
Link to Vivek's piece: https://vivekkaul.com/2021/01/14/bitcoin-is-a-bubble-a-way-to-speculate-and-not-the-future-of-money/ Dear Vivek, I'am a keen follower of your frequent analysis and was very happy to see you writing an elaborate piece on Bitcoin. While it would be counter-intuitive to see a 'believer' be glad about the points you make, it gives me a starting point to address the discussion/ fears around Bitcoin in a systematic way. Thanks to the articulate way you always choose to take around any topic. So I'll skip the general opening discussions in your piece and move straight to the aspects I think are relevant to your pointwise examination: 1. Argument: Bitcoin doesn't pass the 'Store of value' test. I agree with you that the price fluctuations in bitcoin do not make it seem like a store of value. The amount of bitcoins it takes today to buy a loaf of bread, after a week may buy you two or maybe half. But hasn't that happened to many of ...