I was wondering how many here are using bitcoin as hedge against their local currency. the pound is acting like a shitcoin these days so anyone parked in bitcoin has done nicely recently, and then of course there are many other countries with really weak currencies.
is anyone here using bitcoin for this end? and I don't mean for hypothetical dollar death or anything like that, I mean for your local currency today.
Yes, I'm using it exactly as a hedge, along with the US dollar. If both of them go down a few percentages, I go buying them. If Bitcoin goes up, I sell some part of what I earn by posting here, but I'm still trying to keep my Bitcoin savings increasing. In this way, even if Bitcoin goes higher, my stash slowly keeps growing. I'm following essentially the same tactic in respect to the US dollar...
Though I consider Bitcoin to be a longer term investment than dollar
