I do not like it when bitcoin goes down. I agree with you that the market is thin and btc is volatile, as such, I do not attempt to trade in-and-out of bitcoin However, over a long time period, bitcoin goes up in value. For me, buy & hold is a much easier method to reap the benefits of investing in bitcoin
To get to that price, we will need a massive increase in bitcoin adoption Currently, only 46M people in the US own btc and over 120M(?) worldwide I believe the estimated number of btc owners needed to reach $1M/btc is ~3B worldwide The estimated number of btc owners worldwide to reach $500K/btc is ~1B worldwide which based on the current growth could be reached in 2-3 years The money is not all coming from US folks
True but most Governments and central banks around the world are anti-bitcoin. I'm not saying they will do anything about it but they certainly won't like it soaking up trillions of dollars that has no economic benefit.
it has economic benefits. it makes international trade easier to facilitate...and just because governments don't mint it, doesn't mean they can't control it. hard to understand without knowledge about payment processes, I know but that's the way it is
I wonder how many remember that Bitcoin was powerful even when it was seen as an illegal thing, and mostly traded in anonymous exchanges like btc-e, or overpriced p2p sites like localbitcoin. During those times as a clandestine, it went from nothing to 600$ a piece. Today, it's taxed, it has derivatives and you can find it in many serious investor's portfolio. If one government will shut it down, another one will welcome it with open arms. I am all in favour of crypto and long. My only fear, as I fear governments like the plague, is if the biggest whale, was some country like China or Russia, and used it a destabilising weapon against plenty of western investor by removing the rug under our feet during the perfect storm.
Try convincing the US Govt or the Fed of that! Or pretty much any other Government on the planet for that matter. There are plenty of ways that the Govt could kill off crypto. I won't mention them here just in case.
you dont understand. They already ARE convinced and in the process of using crypto to their advantage. Open your eyes man
Maybe but they'll never support BTC, ETH etc. They will not want trillions of dollars going into bitcoin over the next few years.
In the grand scheme of things, El Salvador is irrelevant. It's just a tiny poor country in Central America. Trillions, really? BTC is by far the biggest, and that's only 0.75 trillion. I get it. You want BTC to go to the moon. I'm just saying Uncle Sam might have other ideas.