Not sure if discussing bitcoin as an investment is allowed, but with the recent trend I wanted to take a step back and discuss this.
The main reason people say to buy bitcoin as an investment is that 1.There is a limited supply 2. It functions like money
So the general theory is that once all the coins are mined, that's it. And people will keep buying more and more until the coins are mined. So the price will be incredibly high at the end.
However, some counter points is that 1. Gold is similar, so why isn't gold blowing up like bitcoin. 2. There are other crypto coins that can be spun up easily. All it takes is for one of US government to just say oh well, bitcoin is now illegal, you can use our usa crypto coin tho.
Today we all agree that bitcoin is worth 90k. But structurally bitcoin is the same as the other cryptos and nfts, so...
As a counter to myself, the mono lisa is just a painting, but we all agree it is priceless. But in the future, will this be the same for bitcoin? Is this what everyone is really investing in? Agreed value in the future?
Submitted November 20, 2024 at 02:50AM by Silent-Carry-4617 https://ift.tt/BsEZI34
