ConcernTroll003 wants us to have a real discussion with DumbTroll2034. How sweet.
Is it time to go all in on Bitcoin?
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219 Replies |
Last: 10 hrs ago by DiabloWags
oski003 said:
I agree with Calbear93 here. I disagree with the treatment the OP get when this could have been a reasonable discussion.
I guess you failed to notice that he asked a question that he really wasn't genuinely seeking an answer for.
He already had his mind made up before he asked it.
Therefore, there was no chance for a reasonable discussion.
That's why he has no idea what calbear93 is talking about.
That's why he told me I could have, should have bought Bitcoin instead of a sports car.
Typical Troll-like behavior by a troll.
"Cults don't end well. They really don't."
dajo9 said:
ConcernTroll003 wants us to have a real discussion with DumbTroll2034. How sweet.
Maybe they can get a room together?
"Cults don't end well. They really don't."
DiabloWags said:oski003 said:
I agree with Calbear93 here. I disagree with the treatment the OP get when this could have been a reasonable discussion.
I guess you failed to notice that he asked a question that he really wasn't genuinely seeking an answer for.
He already had his mind made up before he asked it.
Therefore, there was no chance for a reasonable discussion.
That's why he has no idea what calbear93 is talking about.
That's why he told me I could have, should have bought Bitcoin instead of a sports car.
Typical Troll-like behavior by a troll.
It is up 20% since his original post. The troll behavior is mocking him for suggesting Bitcoin is going to surpass current all time highs, like it has a long term trajectory to do so. It is completely fine to feel the investment is speculative and avoid it, especially from a position where you are old and have built a nest egg and don't care to take risks. It is another thing to post in the disrespectful manner you have. Even if you disagree with his anti-Biden posts, can't that be separated from a conversation of cryptocurrency? Yes, we could have had a genuine discussion on crypto, even if you feel his views and method of communication are too extreme. He certainly didn't mock you here until you drew first blood.
Fyi, my sources tell me that Ethereum should have a nice near future boom. I am considering putting SOME money into it.
DiabloWags said:dajo9 said:
ConcernTroll003 wants us to have a real discussion with DumbTroll2034. How sweet.
Maybe they can get a room together?
We are already in a room with together, it is THIS off topic forum that you said you would NEVER again post in just a few months ago. Instead, you track and insult folks for what times and how many times they post a day. SAD.
oski003 said:DiabloWags said:dajo9 said:
ConcernTroll003 wants us to have a real discussion with DumbTroll2034. How sweet.
Maybe they can get a room together?
We are already in a room with together, it is THIS off topic forum that you said you would NEVER again post in just a few months ago. Instead, you track and insult folks for what times and how many times they post a day. SAD.
I will indulge your ConcernTroll003 concern. Calbear93 already replied to DumbTroll2034 with an intelligent post on the subject. None of the rest of us did because we already knew the response before it happened. You responded with a snarky post that addressed nothing that calbear93 spoke of. DumbTroll2034 said bitcoin will last longer than any stock. So will dirt.
So, you got what you say you wanted. Both of you pissed on it. Now you are here concern trolling about the responses. Look in the mirror.
https://bearinsider.com/forums/6/topics/119487/replies/2305965
oski003 said:DiabloWags said:dajo9 said:
ConcernTroll003 wants us to have a real discussion with DumbTroll2034. How sweet.
Maybe they can get a room together?
We are already in a room with together, it is THIS off topic forum that you said you would NEVER again post in just a few months ago. Instead, you track and insult folks for what times and how many times they post a day. SAD.
I left on July 1st, 2023.
I came back to post after a 6 month hiatus.
Why do you care so much?
I've got $1,000 that says you can't leave this place for 6 months like I just did.
It would kill you.
You're "concern" trolling makes you sound like youre in middle school.
Grow up.
"Cults don't end well. They really don't."
oski003 said:DiabloWags said:oski003 said:
He certainly didn't mock you here until you drew first blood.
More revisionist BS.
How old are you . . . 12?
"Cults don't end well. They really don't."
DiabloWags said:oski003 said:DiabloWags said:oski003 said:
He certainly didn't mock you here until you drew first blood.
More revisionist BS.
How old are you . . . 12?
More revisionist BS.
Do you have memory issues? Just go to the first handful of posts here. It is clear and obvious.
DiabloWags said:dajo9 said:
ConcernTroll003 wants us to have a real discussion with DumbTroll2034. How sweet.
Maybe they can get a room together?
Kneepads003 doesn't need a room. A back alley, or a parked car works for him.
"There are three kinds of lies: lies, damned lies, and statistics." -- (maybe) Benjamin Disraeli, popularized by Mark Twain
AunBear89 said:DiabloWags said:dajo9 said:
ConcernTroll003 wants us to have a real discussion with DumbTroll2034. How sweet.
Maybe they can get a room together?
Kneepads003 doesn't need a room. A back alley, or a parked car works for him.
I have found the place I am shagging is less important than the person I am shagging. I would certainly shag my beautiful wife in a back alley or car. Thanks.
Kneepads don't shag, they Hoover.
"There are three kinds of lies: lies, damned lies, and statistics." -- (maybe) Benjamin Disraeli, popularized by Mark Twain
AunBear89 said:
Kneepads don't shag, they Hoover.
If you say so.
oski003 said:DiabloWags said:Absolutely!dajo9 said:
It is time for bear2034 to go all in on bitcoin
Samson Mow says it will hit $1 million in the near future.
You'd be a fool not to go all in here at 43,135.00
Diablo either has no recollection of this or actually thinks these posts aren't meant to mock the OP. The truth is likely he is just a lying dick who thinks it is okay to be a dick to someone if he (and others) don't like them.
Your reading comprehension is terribly poor. Shocker.
bear2034 said:
How much is one coin against your currency, the Ruble?
"Cults don't end well. They really don't."
DiabloWags said:oski003 said:DiabloWags said:Absolutely!dajo9 said:
It is time for bear2034 to go all in on bitcoin
Samson Mow says it will hit $1 million in the near future.
You'd be a fool not to go all in here at 43,135.00
Diablo either has no recollection of this or actually thinks these posts aren't meant to mock the OP. The truth is likely he is just a lying dick who thinks it is okay to be a dick to someone if he (and others) don't like them.
Your reading comprehension is terribly poor. Shocker.bear2034 said:
How much is one coin against your currency, the Ruble?
That was said AFTER you taunted him. You can't acknowledge you are wrong. You are ridiculous.
bear2034 said:
Any price is the right price for bitcoin. It's the scarcest asset in the world . . .
Pearls were once perceived as SCARCE in the early 1900's.
They were prized around the world and were often more valuable than gold and even diamonds.
And then they fell victim to what the economist Joseph Schumpeter called "the perennial gale of creative destruction."
"Cults don't end well. They really don't."
DiabloWags said:bear2034 said:
Any price is the right price for bitcoin. It's the scarcest asset in the world . . .
Pearls were once perceived as SCARCE in the early 1900's.
They were prized around the world and were often more valuable than gold and even diamonds.
And then they fell victim to what the economist Joseph Schumpeter called "the perennial gale of creative destruction."
I saw a documentary once showing the extraordinary lengths pearl farmers go through to harvest large pearls in the South Pacific. The business is a fascinating combination of old school free diving and high-tech methods to ensure the pearls are of the highest quality.
If someone can hack the bitcoin blockchain so that more bitcoins can be mined above the 21 million supply limit, then I believe bitcoin will go to zero. But so far, there haven't been any successful hacks. Banks, governments, and large corporations can't say the same thing about their networks.
bear2034 said:DiabloWags said:bear2034 said:
Any price is the right price for bitcoin. It's the scarcest asset in the world . . .
Pearls were once perceived as SCARCE in the early 1900's.
They were prized around the world and were often more valuable than gold and even diamonds.
And then they fell victim to what the economist Joseph Schumpeter called "the perennial gale of creative destruction."
I saw a documentary once showing the extraordinary lengths pearl farmers go through to harvest large pearls in the South Pacific. The business is a fascinating combination of old school free diving and high-tech methods to ensure the pearls are of the highest quality.
If someone can hack the bitcoin blockchain so that more bitcoins can be mined above the 21 million supply limit, then I believe bitcoin will go to zero. But so far, there haven't been any successful hacks. Banks, governments, and large corporations can't say the same thing about their networks.
Definitely risk with Bitcoin. Every time a currency exchange gets hacked, crypto drops considerably. Otherwise, it seems to keep going up unless there is a black swan event that craters it.
oski003 said:Definitely risk with Bitcoin. Every time a currency exchange gets hacked, crypto drops considerably. Otherwise, it seems to keep going up unless there is a black swan event that craters it.bear2034 said:DiabloWags said:bear2034 said:
Any price is the right price for bitcoin. It's the scarcest asset in the world . . .
Pearls were once perceived as SCARCE in the early 1900's.
They were prized around the world and were often more valuable than gold and even diamonds.
And then they fell victim to what the economist Joseph Schumpeter called "the perennial gale of creative destruction."
I saw a documentary once showing the extraordinary lengths pearl farmers go through to harvest large pearls in the South Pacific. The business is a fascinating combination of old school free diving and high-tech methods to ensure the pearls are of the highest quality.
If someone can hack the bitcoin blockchain so that more bitcoins can be mined above the 21 million supply limit, then I believe bitcoin will go to zero. But so far, there haven't been any successful hacks. Banks, governments, and large corporations can't say the same thing about their networks.
Government may at some point, halt bitcoin ETF trading and force sell offs like they did in the 1930's when they seized gold from citizens. But government can't take away bitcoins that are in your personal custody. But if they are considering this as an option, makes you wonder why would the SEC approve bitcoin ETF's to begin with?
Wall Street seems to love these ETF's as they are gobbling up thousands of coins per day:
1. They have collectively bought ~2,400 BTC per day since they started trading on January 11.
2. Over the past month, this equals $3.8 Billion.
There's a huge imbalance between supply and demand:
1. Newly mined bitcoin supply is 900 BTC per day. This means the ETFs are buying ~2.5x of new supply.
2. Over the last week, the ETFs bought, on average, ~9000 BTC daily. That is 10x of the new daily Bitcoin supply.
3. The bitcoin halving in 2 months will add fuel to this imbalance (daily issuance 900-->450 BTC per day).
Blackrock alone is sucking up thousands of BTC daily without their fund managers actively selling to clients. Other countries are only at the beginning stages of getting in the ETF approval game.
How much Bitcoin do you own?
And what percentage of your net liquid worth is it?
And what percentage of your net liquid worth is it?
"Cults don't end well. They really don't."
The future is endless pic.twitter.com/hXXvuV8qkV
— Big Tesla (@hikingskiing) February 24, 2024
More than your average millionaire, amazingly. There are about 62.4 millionaires in the world, if you divide that into 21 million bitcoins, that's only 0.33 bitcoin per millionaire.
90/10 split. Bitcoin (including bitcoin ETF) / Tesla. Concentration, not diversification.
There's probably more than 62.4 millionaires posting on Bear Insider.bear2034 said:
More than your average millionaire, amazingly. There are about 62.4 millionaires in the world, if you divide that into 21 million bitcoins, that's only 0.33 bitcoin per millionaire.
90/10 split. Bitcoin (including bitcoin ETF) / Tesla. Concentration, not diversification.
I would say that anyone over 40 who has not accumulated something close to $1m in assets during an all asset bubble driven by a zero interest rate environment has not really been trying. Of course, $1m won't buy you much of a retirement, especially if some of the assets are tied to illiquid assets like home equity.Eastern Oregon Bear said:There's probably more than 62.4 millionaires posting on Bear Insider.bear2034 said:
More than your average millionaire, amazingly. There are about 62.4 millionaires in the world, if you divide that into 21 million bitcoins, that's only 0.33 bitcoin per millionaire.
90/10 split. Bitcoin (including bitcoin ETF) / Tesla. Concentration, not diversification.
You do realize that the volatility of crypto (including, even if you are right, spike in price) makes it that unlikely that it will ever be adopted as currency for most commercial transactions.bear2034 said:The future is endless pic.twitter.com/hXXvuV8qkV
— Big Tesla (@hikingskiing) February 24, 2024
More than your average millionaire, amazingly. There are about 62.4 millionaires in the world, if you divide that into 21 million bitcoins, that's only 0.33 bitcoin per millionaire.
90/10 split. Bitcoin (including bitcoin ETF) / Tesla. Concentration, not diversification.
If you truly believe in the viability of crypto, why not invest in companies that will get growth no matter which crypto wins and no matter the volatility, such as Coinbase and Nvidia (you know, the computing power required to mine bitcoin)? If I were a believer in crypto, that would be my play. For me, I have been a believer of Nvidia and their market leading position for chips needed to handle the demands of AI processing and forward thinking management for a long time. Even during the internet bubble era, they were the market leaders for video graphics. The management always anticipates the next big demand in computing power. I personally would not invest in something solely crypto related like Coinbase, but I can see how they can be a winner and make for a safer investment that can be tracked for valuation if you believed in the crypto market.
calbear93 said:You do realize that the volatility of crypto (including, even if you are right, spike in price) makes it that unlikely that it will ever be adopted as currency for most commercial transactions.bear2034 said:The future is endless pic.twitter.com/hXXvuV8qkV
— Big Tesla (@hikingskiing) February 24, 2024
More than your average millionaire, amazingly. There are about 62.4 millionaires in the world, if you divide that into 21 million bitcoins, that's only 0.33 bitcoin per millionaire.
90/10 split. Bitcoin (including bitcoin ETF) / Tesla. Concentration, not diversification.
If you truly believe in the viability of crypto, why not invest in companies that will get growth no matter which crypto wins and no matter the volatility, such as Coinbase and Nvidia (you know, the computing power required to mine bitcoin)? If I were a believer in crypto, that would be my play. For me, I have been a believer of Nvidia and their market leading position for chips needed to handle the demands of AI processing and forward thinking management for a long time. Even during the internet bubble era, they were the market leaders for video graphics. The management always anticipates the next big demand in computing power. I personally would not invest in something solely crypto related like Coinbase, but I can see how they can be a winner and make for a safer investment that can be tracked for valuation if you believed in the crypto market.
How about Square?
oski003 said:calbear93 said:You do realize that the volatility of crypto (including, even if you are right, spike in price) makes it that unlikely that it will ever be adopted as currency for most commercial transactions.bear2034 said:The future is endless pic.twitter.com/hXXvuV8qkV
— Big Tesla (@hikingskiing) February 24, 2024
More than your average millionaire, amazingly. There are about 62.4 millionaires in the world, if you divide that into 21 million bitcoins, that's only 0.33 bitcoin per millionaire.
90/10 split. Bitcoin (including bitcoin ETF) / Tesla. Concentration, not diversification.
If you truly believe in the viability of crypto, why not invest in companies that will get growth no matter which crypto wins and no matter the volatility, such as Coinbase and Nvidia (you know, the computing power required to mine bitcoin)? If I were a believer in crypto, that would be my play. For me, I have been a believer of Nvidia and their market leading position for chips needed to handle the demands of AI processing and forward thinking management for a long time. Even during the internet bubble era, they were the market leaders for video graphics. The management always anticipates the next big demand in computing power. I personally would not invest in something solely crypto related like Coinbase, but I can see how they can be a winner and make for a safer investment that can be tracked for valuation if you believed in the crypto market.
How about Square?
Sure, Block is something you could actually analyze. Not on my list but an actual company.
calbear93 said:You do realize that the volatility of crypto (including, even if you are right, spike in price) makes it that unlikely that it will ever be adopted as currency for most commercial transactions.bear2034 said:The future is endless pic.twitter.com/hXXvuV8qkV
— Big Tesla (@hikingskiing) February 24, 2024
More than your average millionaire, amazingly. There are about 62.4 millionaires in the world, if you divide that into 21 million bitcoins, that's only 0.33 bitcoin per millionaire.
90/10 split. Bitcoin (including bitcoin ETF) / Tesla. Concentration, not diversification.
If you truly believe in the viability of crypto, why not invest in companies that will get growth no matter which crypto wins and no matter the volatility, such as Coinbase and Nvidia (you know, the computing power required to mine bitcoin)? If I were a believer in crypto, that would be my play. For me, I have been a believer of Nvidia and their market leading position for chips needed to handle the demands of AI processing and forward thinking management for a long time. Even during the internet bubble era, they were the market leaders for video graphics. The management always anticipates the next big demand in computing power. I personally would not invest in something solely crypto related like Coinbase, but I can see how they can be a winner and make for a safer investment that can be tracked for valuation if you believed in the crypto market.
Bitcoin's volatility may scare off some but it's upside is enormous which is why we are seeing large inflows into the ETF's. It's volatility will diminish over time as more retail investors, institutions, and nation states adopt the bitcoin standard. I don't invest in other cryptocurrencies because bitcoin is a better hold of value in the long term due to its scarcity. I don't invest in bitcoin proxy stocks because I'd rather hold the actual asset in my possession.
Q: What happens to Bitcoin & other digital currencies when the U.S. Treasury Dept introduces their Central Bank Digital Currency? Wouldn't they need to make the digital currencies illegal? Sure, many vendors would accept digital currencies in exchange for goods & services, but then they'd be holding [potentially] worthless currency, especially if their bank refused to accept them in exchange.
If you're a small business, do you take the risk of being a bag-holder?
If you're a small business, do you take the risk of being a bag-holder?
I don't think we can dismiss the possibility that Bitcoin is a US spook-sponsored psy-op to pave the way for CBDC.
Zippergate said:
I don't think we can dismiss the possibility that Bitcoin is a US spook-sponsored psy-op to pave the way for CBDC.
Could be. But if it was a government psy-op, I wouldn't expect so much early resistance from our own Central Bank, the European Central Bank, the SEC, Blackrock, Jamie Dimon, Jim Cramer, etc....
Bitcoin and Ethereum seem like the only legitimate crypto assets.bear2034 said:calbear93 said:You do realize that the volatility of crypto (including, even if you are right, spike in price) makes it that unlikely that it will ever be adopted as currency for most commercial transactions.bear2034 said:The future is endless pic.twitter.com/hXXvuV8qkV
— Big Tesla (@hikingskiing) February 24, 2024
More than your average millionaire, amazingly. There are about 62.4 millionaires in the world, if you divide that into 21 million bitcoins, that's only 0.33 bitcoin per millionaire.
90/10 split. Bitcoin (including bitcoin ETF) / Tesla. Concentration, not diversification.
If you truly believe in the viability of crypto, why not invest in companies that will get growth no matter which crypto wins and no matter the volatility, such as Coinbase and Nvidia (you know, the computing power required to mine bitcoin)? If I were a believer in crypto, that would be my play. For me, I have been a believer of Nvidia and their market leading position for chips needed to handle the demands of AI processing and forward thinking management for a long time. Even during the internet bubble era, they were the market leaders for video graphics. The management always anticipates the next big demand in computing power. I personally would not invest in something solely crypto related like Coinbase, but I can see how they can be a winner and make for a safer investment that can be tracked for valuation if you believed in the crypto market.
Bitcoin's volatility may scare off some but it's upside is enormous which is why we are seeing large inflows into the ETF's. It's volatility will diminish over time as more retail investors, institutions, and nation states adopt the bitcoin standard. I don't invest in other cryptocurrencies because bitcoin is a better hold of value in the long term due to its scarcity. I don't invest in bitcoin proxy stocks because I'd rather hold the actual asset in my possession.
Crypto EFTs will spike demand for bitcoins for a bit but the funds are making those available only because they can get a cut of the easy management fees. I don't know if Larry Fink actually owns any crypto in his own personal account.
I see crypto as more a place to park funds in the midst of high instability similar to havens like gold. No intrinsic value. I also don't really view it as a legitimate digital currency when there is so much volatility. Government owned digital currency will be the only stable source in the future. Also, I believe cybersecurity risk remains a barrier to government adoption of digital currency but not an expert on that.
Doesn't mean crypto won't go up or outperform. Just not something I know how to value or justify the valuation. Similar to how I had no FOMO when GameStop or AMC stocks were skyrocketing. I had no advantage through analysis or experience, so happy to not participate and OK to miss out.
calbear93 said:Bitcoin and Ethereum seem like the only legitimate crypto assets.bear2034 said:calbear93 said:You do realize that the volatility of crypto (including, even if you are right, spike in price) makes it that unlikely that it will ever be adopted as currency for most commercial transactions.bear2034 said:The future is endless pic.twitter.com/hXXvuV8qkV
— Big Tesla (@hikingskiing) February 24, 2024
More than your average millionaire, amazingly. There are about 62.4 millionaires in the world, if you divide that into 21 million bitcoins, that's only 0.33 bitcoin per millionaire.
90/10 split. Bitcoin (including bitcoin ETF) / Tesla. Concentration, not diversification.
If you truly believe in the viability of crypto, why not invest in companies that will get growth no matter which crypto wins and no matter the volatility, such as Coinbase and Nvidia (you know, the computing power required to mine bitcoin)? If I were a believer in crypto, that would be my play. For me, I have been a believer of Nvidia and their market leading position for chips needed to handle the demands of AI processing and forward thinking management for a long time. Even during the internet bubble era, they were the market leaders for video graphics. The management always anticipates the next big demand in computing power. I personally would not invest in something solely crypto related like Coinbase, but I can see how they can be a winner and make for a safer investment that can be tracked for valuation if you believed in the crypto market.
Bitcoin's volatility may scare off some but it's upside is enormous which is why we are seeing large inflows into the ETF's. It's volatility will diminish over time as more retail investors, institutions, and nation states adopt the bitcoin standard. I don't invest in other cryptocurrencies because bitcoin is a better hold of value in the long term due to its scarcity. I don't invest in bitcoin proxy stocks because I'd rather hold the actual asset in my possession.
Crypto EFTs will spike demand for bitcoins for a bit but the funds are making those available only because they can get a cut of the easy management fees. I don't know if Larry Fink actually owns any crypto in his own personal account.
I see crypto as more a place to park funds in the midst of high instability similar to havens like gold. No intrinsic value. I also don't really view it as a legitimate digital currency when there is so much volatility. Government owned digital currency will be the only stable source in the future. Also, I believe cybersecurity risk remains a barrier to government adoption of digital currency but not an expert on that.
Doesn't mean crypto won't go up or outperform. Just not something I know how to value or justify the valuation. Similar to how I had no FOMO when GameStop or AMC stocks were skyrocketing. I had no advantage through analysis or experience, so happy to not participate and OK to miss out.
I disagree about crypto as a place to store funds amid instability. Crypto did terribly during the recent years of instability. Also, it was the opposite of an inflation hedge. It acts like a high beta stock but, as you point out, no fundamentals from which to value.
calbear93 said:Bitcoin and Ethereum seem like the only legitimate crypto assets.bear2034 said:calbear93 said:You do realize that the volatility of crypto (including, even if you are right, spike in price) makes it that unlikely that it will ever be adopted as currency for most commercial transactions.bear2034 said:The future is endless pic.twitter.com/hXXvuV8qkV
— Big Tesla (@hikingskiing) February 24, 2024
More than your average millionaire, amazingly. There are about 62.4 millionaires in the world, if you divide that into 21 million bitcoins, that's only 0.33 bitcoin per millionaire.
90/10 split. Bitcoin (including bitcoin ETF) / Tesla. Concentration, not diversification.
If you truly believe in the viability of crypto, why not invest in companies that will get growth no matter which crypto wins and no matter the volatility, such as Coinbase and Nvidia (you know, the computing power required to mine bitcoin)? If I were a believer in crypto, that would be my play. For me, I have been a believer of Nvidia and their market leading position for chips needed to handle the demands of AI processing and forward thinking management for a long time. Even during the internet bubble era, they were the market leaders for video graphics. The management always anticipates the next big demand in computing power. I personally would not invest in something solely crypto related like Coinbase, but I can see how they can be a winner and make for a safer investment that can be tracked for valuation if you believed in the crypto market.
Bitcoin's volatility may scare off some but it's upside is enormous which is why we are seeing large inflows into the ETF's. It's volatility will diminish over time as more retail investors, institutions, and nation states adopt the bitcoin standard. I don't invest in other cryptocurrencies because bitcoin is a better hold of value in the long term due to its scarcity. I don't invest in bitcoin proxy stocks because I'd rather hold the actual asset in my possession.
Crypto EFTs will spike demand for bitcoins for a bit but the funds are making those available only because they can get a cut of the easy management fees. I don't know if Larry Fink actually owns any crypto in his own personal account.
I see crypto as more a place to park funds in the midst of high instability similar to havens like gold. No intrinsic value. I also don't really view it as a legitimate digital currency when there is so much volatility. Government owned digital currency will be the only stable source in the future. Also, I believe cybersecurity risk remains a barrier to government adoption of digital currency but not an expert on that.
Doesn't mean crypto won't go up or outperform. Just not something I know how to value or justify the valuation. Similar to how I had no FOMO when GameStop or AMC stocks were skyrocketing. I had no advantage through analysis or experience, so happy to not participate and OK to miss out.
For something that has no intrinsic value, there was a lot of energy (waste energy) that was used to mine the coins. Bitcoin is stored digital energy, like a battery, except batteries become more inefficient over time. Bitcoin becomes harder over time as more people adopt it and thereby strengthening the network. I can't say much about its vulnerability to cyberattack other than to say I heard it will take a tremendous amount of resources to launch one successfully. So much so that you might as well use those same resources to mine bitcoin itself.
As far stable fiat government currencies for the future, which one are you referring to, USD, Yuan, Euro? Bitcoin has only been around for 15 years compared to the dollar but over time, I'm sure it will become less volatile.
Theoretically, the price target for bitcoin is infinity and the holding period is forever. There is no exit strategy among the purists, bitcoin itself is the monetary exit strategy.
I would tend to agree with this.calbear93 said:I would say that anyone over 40 who has not accumulated something close to $1m in assets during an all asset bubble driven by a zero interest rate environment has not really been trying. Of course, $1m won't buy you much of a retirement, especially if some of the assets are tied to illiquid assets like home equity.Eastern Oregon Bear said:There's probably more than 62.4 millionaires posting on Bear Insider.bear2034 said:
More than your average millionaire, amazingly. There are about 62.4 millionaires in the world, if you divide that into 21 million bitcoins, that's only 0.33 bitcoin per millionaire.
90/10 split. Bitcoin (including bitcoin ETF) / Tesla. Concentration, not diversification.
But then again, you still have to have an appetite for risk and not everyone is "wired" that way.
"Cults don't end well. They really don't."
The Golden State contains 1.15 million households with more than $1 million in investible assets (2020).bear2034 said:
There are about 62.4 millionaires in the world, if you divide that into 21 million bitcoins, that's only 0.33 bitcoin per millionaire.
90/10 split. Bitcoin (including bitcoin ETF) / Tesla. Concentration, not diversification.
8.5% of households
In 2021, California had 288,000 residents with reportable income more than $1 Million.
And now has at least 113 Billionaires.
California's Ultra-Wealthy Population Grew 158 Percent in Two Years Robb Report
"Cults don't end well. They really don't."
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