this post was submitted on 04 Dec 2023
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Please enlighten me then.
I mean you gotta be realistic: investing in crypto is either gambling or getting scammed. Bitcoin is probably more stable than most other coins but that doesn't mean it's not a gamble. And volatile = gambling assuming you're not an omnipotent being.
TL;DR don't invest in crypto. Any crypto.
If I'm being realistic, I'm not all-in on bitcoin. I have a variety of investments. But bitcoin is beating them all, by a lot. If you plan to invest in bitcoin and cash out in a few months for a profit? Yeah, that's a gamble. But long term I think it's a safe bet.
Long enough term, it's guaranteed 100% loss though, you just feel like you'll know when to pull the trigger. I divested everything when I 10x'ed my money... when Bitcoin were $1k each. I realized that that ride is a fucking roller coaster and I didn't want on it. Do I wish I had $500k worth of bitcoin right now? Hell yeah, but fuck me if it couldn't have gone the other way.
Isn’t regular money the same? I mean isnt it down 99% in 100 years or something?
Depends on your currency.
USD or EUR? Probably more like 20-40%.
Venezuelan bolivar? 99% is a pipe dream.
Since 1913 the US dollar has lost 96.8% of its value. So yes 99% in 100 years was incorrect
Hell, that's still heaps.
I know they’re not comparable but bitcoin has increased in value around 70 000%. There’s no centralised money printer so supply can’t be diluted and its other feature is its transparency. The funny part is how much value you can attribute to the transparency. It’s so easy for any system to have transparency but when it’s centralised it’s always a conscious decision by the designers to make it closed which will always attract suspicion and erode trust, as it should.
As long as there are bitcoin believers the trend will continue, it doesn’t matter if you personally think bitcoin is stupid or not. I personally think it’s ok but there’s probably better ways to preserve wealth transparently. The only question that matters is will everyone think bitcoin is stupid? As long as price goes up long term answer will be no. Keep in mind in 100 years from now the US dollars value will probably drop another 97% on top of what it’s worth now.
No