What are we talking about exactly? You say Bitcoin "has become a cult" and mock the idea that it will "go up any day now", except, it has done just that.
If you are jumping into it this year, then you have experienced losses, so far, but that only matters if you are thinking short term. If you invested even two years ago, you have done nothing but gain value.
If you believe Bitcoin is bad because it has gone down, then what are you going to say if it goes back up again and exceeds its previous level? That's what it has done every single time so far.
If you are just jumping in to make a few quick bucks before you jump out, and you fucked up your timing, then that's not a flaw or problem with Bitcoin. You are gambling like any other day trader.
Bitcoin is too high to be an investment worth holding outside of retention of value.
In what sense? You don't need to think of it as owning 1-2 Bitcoin or whatever. Owning less than a Bitcoin is not somehow lesser. In the long run, it can only go up in value massively. There is essentially no limit to how high it can go because it is a deflationary money. In fact, the most deflationary money that has ever existed.
No I didn't. That was that other guy.
My mistake.
Sure -- and now there are better things to buy if you're looking for value, because Bitcoin costs a lot. If I buy now, it would need to hit 80k just for me to double my money, let alone if I bought before this most recent drop. I've already done that and then some in my O&G stocks, and I bought them last April/May.
Yeah if you are looking for short term gains, there are lots of things that are better to buy. If you are looking for long term storage of value, there is nothing even close.
What are we talking about exactly? You say Bitcoin "has become a cult" and mock the idea that it will "go up any day now", except, it has done just that.
If you are jumping into it this year, then you have experienced losses, so far, but that only matters if you are thinking short term. If you invested even two years ago, you have done nothing but gain value.
If you believe Bitcoin is bad because it has gone down, then what are you going to say if it goes back up again and exceeds its previous level? That's what it has done every single time so far.
If you are just jumping in to make a few quick bucks before you jump out, and you fucked up your timing, then that's not a flaw or problem with Bitcoin. You are gambling like any other day trader.
In what sense? You don't need to think of it as owning 1-2 Bitcoin or whatever. Owning less than a Bitcoin is not somehow lesser. In the long run, it can only go up in value massively. There is essentially no limit to how high it can go because it is a deflationary money. In fact, the most deflationary money that has ever existed.
My mistake.
Yeah if you are looking for short term gains, there are lots of things that are better to buy. If you are looking for long term storage of value, there is nothing even close.