You either believe in it or you don't. To most people, this is a speculative asset, and I agree, a big part of it is. But what's behind it is people who want control of their own money without the use of a bank. This is what seperates the long term investors from the panick selling speculators
To be honest, I think this one is more scary. BTC can be all lalalala, sitting on the pad. And THEN boomage.
^^ That was a prototype rocket with no people inside. I think it's fine that that rocket exploded, in fact I'm glad that rocket exploded so now they can make them more safer for people to ride in.
It all depends on where you enter the instrument, what your cost average may be period. When it went from $20k to $3k it gets pretty hard to look at anything long term . Did I mention I also missed the boat?
That rocket is never going to work for getting people to orbit safely and back again, much less to Mars. It's Elon Musk being all Astronaut Farmer and shit.
It's easy to beat up on bitcoin when it's on a downtrend or in a bear market. It is the reason all naysayers could not get themselves to buy btc when it was $3K or when it was $300 What if you can look ahead instead of this current downtrend? What if you can imagine bitcoin at $100K, $200K or $300K in the future? Would it not make sense to buy 1 bitcoin or 2, or 5 bitcoins today? Reminds me of a very wise poster below when bitcoin was mid $6K and he gave a very good advice that the ET bitcoin critics chose to ignore. Incidentally, his very last post on the CC forum
That is why you wait for a 50% drop first. Going from 10K to 3K is a completely different experience.
I think we already agreed that the last argument left for bitcoin was PRICE. So forgive me if we keep pointing it out. Also the new usecase: Future of money>>Store of value>>Collectors item
"Store of value" isn't the same as being a useful portfolio contributor. VC investments for example are common in portfolios, but nobody would call them "stores of value". What you really want to know is whether BTC will be a useful portfolio contributor out to 2040 or whatever. There's a lot of reasons to think not, so best to model with conservative assumptions.