4Mon
The article is well written, but recognizably with a Bitcoin bias. The book seems to have simply taken 16 properties of BTC that make it plausible as a store of value and then compared everything else to those 16 properties.
The store of value properties that only gold or real estate possess are simply swept under the rug.
Z. For example, you can live in a property and hang gold around your neck, this sensual component is more important than you might think. People value what is beautiful. BTC is abstract, complex and not beautiful. There are other characteristics that BTC does not have: it is not immediately recognizable everywhere in the world. In an emergency, you can get rid of a gold coin at a fair in Djiboutu, where nobody has ever heard of BTC.
And an important point: if the price of BTC hadn't risen so astronomically in recent years, nobody would be interested in it and the 16 properties wouldn't matter at all.
Don't get me wrong: BTC is part of my investment strategy, but it's not a religion.
The store of value properties that only gold or real estate possess are simply swept under the rug.
Z. For example, you can live in a property and hang gold around your neck, this sensual component is more important than you might think. People value what is beautiful. BTC is abstract, complex and not beautiful. There are other characteristics that BTC does not have: it is not immediately recognizable everywhere in the world. In an emergency, you can get rid of a gold coin at a fair in Djiboutu, where nobody has ever heard of BTC.
And an important point: if the price of BTC hadn't risen so astronomically in recent years, nobody would be interested in it and the 16 properties wouldn't matter at all.
Don't get me wrong: BTC is part of my investment strategy, but it's not a religion.
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•Deleted User
4Mon
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4Mon
@financer_684 The whole thing only works if half the world wants BTC at 1 million and price targets of 10 million are mentioned. This is exactly when all those who have hodled BTC from 100k to 1million would have to say: nice and stupid, half the world, that they are paying 1 million for an asset with no utility value, we are selling!
Almost anything can happen with BTC, but it won't! 😅
Incidentally, BTC also has all the characteristics of a Ponzi scheme. Run while it lasts and then run as fast as you can....
Almost anything can happen with BTC, but it won't! 😅
Incidentally, BTC also has all the characteristics of a Ponzi scheme. Run while it lasts and then run as fast as you can....
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@Epi Thanks for your criticism. Of course the post is written with a bitcoin bias - you know me slowly😉
Yes you can live in a property, but you still have the risks and taxes. I wouldn't describe "being able to live in it" or "hanging around as a chain" as characteristics that a store of value should have - but of course I know what you mean.
The price is of course the biggest advertisement for Bitcoin. People are always driven by fear and greed. In the hype phases, some greedy people come in and in the bear markets, some are out again very quickly. But a few always stay because they are fundamentally interested in Bitcoin and are convinced by its properties.
Yes you can live in a property, but you still have the risks and taxes. I wouldn't describe "being able to live in it" or "hanging around as a chain" as characteristics that a store of value should have - but of course I know what you mean.
The price is of course the biggest advertisement for Bitcoin. People are always driven by fear and greed. In the hype phases, some greedy people come in and in the bear markets, some are out again very quickly. But a few always stay because they are fundamentally interested in Bitcoin and are convinced by its properties.
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•@Epi Bitcoin doesn't have the characteristics of a Ponzi :D but I could explain that in a post - it's a good idea for a post.
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•4Mon
@stefan_21 You're probably right. BTC has some of the characteristics of a Ponzi scheme, not all. Differentiating here would indeed be worth a separate article. 👍
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•@financer_684 You have to ask yourself, why would you sell an asset that can rise indefinitely at 1 million for a currency that loses purchasing power indefinitely?
At one million, Bitcoin would have just overtaken the market capitalization of gold as things stand today. Once it is that big, volatility will also have decreased and it will be recognized worldwide as a store of value. Otherwise, it will not reach the 1 million mark.
At one million, Bitcoin would have just overtaken the market capitalization of gold as things stand today. Once it is that big, volatility will also have decreased and it will be recognized worldwide as a store of value. Otherwise, it will not reach the 1 million mark.
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•Deleted User
4Mon
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4Mon
@financer_684 Sell? I.e. you want to exchange BTC for real currency with which you can buy real things and services?
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•@Epi By real currency, do you mean the kind that is created out of nothing at the push of a button and imposed on you from above by obliging you to pay your taxes in Monopoly money?
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@financer_684 I can understand that most people will take profits from time to time.
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