I always hear that Bitcoin is the safe currency.
And now everyone is going out.
How should I understand this?
And now everyone is going out.
How should I understand this?
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@Tenbagger2024 Not everyone is going out, of course :D was a narrow 6% dip in the low.
Basically, people always want to get out of risk-on assets and into safe havens when geopolitical events like this occur. This simply showed me once again that Bitcoin is not yet perceived by the general public as a safe haven, but as a risk asset. In my opinion, Bitcoin should be a lot higher and volatility should decrease a little.
Let's see what happens in a few years' time :)
Basically, people always want to get out of risk-on assets and into safe havens when geopolitical events like this occur. This simply showed me once again that Bitcoin is not yet perceived by the general public as a safe haven, but as a risk asset. In my opinion, Bitcoin should be a lot higher and volatility should decrease a little.
Let's see what happens in a few years' time :)
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But shouldn't I actually give back the Bitcoin that I own? Because Bitcoin is limited, so it's a scarce commodity.
And with a scarce good, at some point demand should be greater than supply and therefore the price should rise.
Or am I clueless here and seeing this completely wrong?
And with a scarce good, at some point demand should be greater than supply and therefore the price should rise.
Or am I clueless here and seeing this completely wrong?
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•I have to admit that I have not yet dealt with the topic of Bitcoin and its development and find myself in the valley of the clueless.
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@Tenbagger2024 You're absolutely right. And that is precisely what the general public does not yet understand.
Whenever you are better informed than the general public, you can make the most profit.
Whenever you are better informed than the general public, you can make the most profit.
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@stefan_21
You are my tutor 😘🌹
You are my tutor 😘🌹
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•@Tenbagger2024
What is a stablecoin, can you invest in it, have you already reported on it?
What is a stablecoin, can you invest in it, have you already reported on it?
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@Tenbagger2024 Stablecoins represent the value of a fiat currency. See e.g. $USDT
This is a private company that buys large quantities of American government bonds, for example, and covers its token 1:1 with dollars.
Of course, you have to trust the company, because if the cover is not there in the end, the token implodes. This has already happened countless times.
The big advantage, however, is that you can send and receive the token without a bank. People in highly inflationary countries such as Argentina or Venezuela can use US dollar stablecoins and save their money in them, for example :)
This is a private company that buys large quantities of American government bonds, for example, and covers its token 1:1 with dollars.
Of course, you have to trust the company, because if the cover is not there in the end, the token implodes. This has already happened countless times.
The big advantage, however, is that you can send and receive the token without a bank. People in highly inflationary countries such as Argentina or Venezuela can use US dollar stablecoins and save their money in them, for example :)
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@stefan_21
The story of Strubelpeter (Sam Bankman-Fried) is still holding me back from investing.
I also don't really understand the crypto world. Because Bitcoin is somehow nothing that I can see and hold in my hand.
A company is real and I can hold its products in my hand, which is why I invest in shares.
I can also touch and see gold.
But Bitcoin, unfortunately, I still don't understand.
And I don't know where this Bitcoin actually is.
How should I interpret coins.
Am I not somehow just buying air🙈
Buffet always says don't invest in something you don't understand.
I have to understand it first my dear.
The story of Strubelpeter (Sam Bankman-Fried) is still holding me back from investing.
I also don't really understand the crypto world. Because Bitcoin is somehow nothing that I can see and hold in my hand.
A company is real and I can hold its products in my hand, which is why I invest in shares.
I can also touch and see gold.
But Bitcoin, unfortunately, I still don't understand.
And I don't know where this Bitcoin actually is.
How should I interpret coins.
Am I not somehow just buying air🙈
Buffet always says don't invest in something you don't understand.
I have to understand it first my dear.
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And Changpeng has only just got out of prison. That doesn't make the image of crypto any better.
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@Tenbagger2024 First of all: SBF is a scammer. He has also always badmouthed Bitcoin in order to sell his FTX token.
It is extremely important that you differentiate between Bitcoin and crypto. It always gives the impression that Bitcoin is one of many cryptocurrencies - instead, Bitcoin and altcoins are actually different asset classes.
There is no company behind Bitcoin, no CEO, no central decision-makers, no people who want to get rich, no marketing department, etc.
Because you don't know where this Bitcoin is:
Bitcoin is pure information. With Bitcoin, the information is the asset and that's so hard to understand.
If I have an idea and share it with you, then we both have the idea. If I have a coin and I give it to you, you have the coin and I no longer have it.
And this is exactly the problem that Bitcoin has solved. Bitcoin creates absolute digital scarcity.
I just remembered a certain lecture that might help you understand this better:
https://youtu.be/2bOpQUWywgs?si=Vic539jDymNYrRNX
Feel free to watch it, it doesn't take too long, but it's really great from dear Niko Jilch :)
It is extremely important that you differentiate between Bitcoin and crypto. It always gives the impression that Bitcoin is one of many cryptocurrencies - instead, Bitcoin and altcoins are actually different asset classes.
There is no company behind Bitcoin, no CEO, no central decision-makers, no people who want to get rich, no marketing department, etc.
Because you don't know where this Bitcoin is:
Bitcoin is pure information. With Bitcoin, the information is the asset and that's so hard to understand.
If I have an idea and share it with you, then we both have the idea. If I have a coin and I give it to you, you have the coin and I no longer have it.
And this is exactly the problem that Bitcoin has solved. Bitcoin creates absolute digital scarcity.
I just remembered a certain lecture that might help you understand this better:
https://youtu.be/2bOpQUWywgs?si=Vic539jDymNYrRNX
Feel free to watch it, it doesn't take too long, but it's really great from dear Niko Jilch :)
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