Bitcoin is an absolute basic investment.
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@Alexander_Bitcoin Warum?
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•@KryX_DE because it has no third party risk and is extremely undervalued. I can use it to cross national borders without having to ask a third party. Transportation is mega easy. It's a growing new asset class. And so on, the list is long.
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@Alexander_Bitcoin I am definitely bullish and yes, I am convinced that we will see 7-digit Bitcoin prices in the long term. Nevertheless, I find this "absolute base investment" framing too simplistic ...
The argument about the lack of third party risk is true in theory, but only to a limited extent in practice. Most people use exchanges (see FTX..), custodians, wallet providers or are indirectly dependent on mining pools and infrastructure. Even with self-custody, you are not automatically safe. Money has been stolen from wallets very often, mostly via compromised browser extensions, phishing or simply poor security practices. This is not a fault of Bitcoin itself, but human stupidity... But that's just part of the reality.
Cross-border and censorship-resistant, Bitcoin is without question a massive strength. The fact that you can move value across national borders without permission is something completely new. At the same time, it is not "mega easy" for many users if you really want to make it secure. Security means responsibility and many people underestimate this.
I basically agree with you on the subject of undervaluation, but not because Bitcoin has classic valuation ratios. There is no cash flow, no dividend. The value arises from monetary properties, scarcity, network effects and trust. This is a long-term process and not a sure-fire success.
I agree that Bitcoin is a new, growing asset class. This is precisely why the upside is huge, but the volatility and regulatory risk are also real. For me, being bullish doesn't mean ignoring everything, but knowing the risks, enduring them and still remaining convinced that Bitcoin will win in the long term precisely because of them. ✌️🤞
The argument about the lack of third party risk is true in theory, but only to a limited extent in practice. Most people use exchanges (see FTX..), custodians, wallet providers or are indirectly dependent on mining pools and infrastructure. Even with self-custody, you are not automatically safe. Money has been stolen from wallets very often, mostly via compromised browser extensions, phishing or simply poor security practices. This is not a fault of Bitcoin itself, but human stupidity... But that's just part of the reality.
Cross-border and censorship-resistant, Bitcoin is without question a massive strength. The fact that you can move value across national borders without permission is something completely new. At the same time, it is not "mega easy" for many users if you really want to make it secure. Security means responsibility and many people underestimate this.
I basically agree with you on the subject of undervaluation, but not because Bitcoin has classic valuation ratios. There is no cash flow, no dividend. The value arises from monetary properties, scarcity, network effects and trust. This is a long-term process and not a sure-fire success.
I agree that Bitcoin is a new, growing asset class. This is precisely why the upside is huge, but the volatility and regulatory risk are also real. For me, being bullish doesn't mean ignoring everything, but knowing the risks, enduring them and still remaining convinced that Bitcoin will win in the long term precisely because of them. ✌️🤞
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