there's plenty that can be bought with crypto and it is legal tender for example in el salvador I think
store of value fluctuations are short term in the comparison offered, if the dollar has gone down 1% annually it has gone down -10%+ in a decade while bitcoin has gone up like +1000%
losing money without refund can also be done with paper currency like if you had bills in a wallet and lost the wallet
sj_zero@lotide.fbxl.net 2 years ago
Going up is just as much a fluctuation as going down. A stable currency ideally doesn't move around a lot period, up or down. That way you can know a week from now, a month from now, a year from now "Ok, if I make 1 bitcoin a year, I can afford [x]" and it'll be roughly true. If you're having to take pay cuts in terms of bitcoin every week because the currency is rising constantly, and you're seeing the cost of things constantly go down all the time, that's going to lead to a set of problems as well.
Let's say you bought a house 10 years ago for 60,000 bitcoin, and you took out a loan for that 60,000 bitcoin. If you took out a 30 year mortgage, let's ballpark it and say you still owe 36,000 bitcoin. Well, instead of owing about $180,000USD on that $300,000USD house, you now owe 1.4 billion dollars on that house. Oh shit.