CoinDesk finally comes clean

Discussion in 'Crypto Assets' started by Pekelo, Dec 12, 2021.

  1. johnarb

    johnarb

    Neither do I nor most people :D

    FB does not pay a dividend, so buying their stock is only a bet that the "price tracker" listed on the stock market goes up (or down if shorting), per our previous convo

    Bitcoin surpasses PayPal in USD transaction volume. Bitcoin is a decentralized network and there are no employees or CEO/CFO and there are no buildings or company cars

    The only ones that get paid in bitcoins are the Bitcoin miners for securing the network. The miners earn ~$1.2B/month when btc is $48K



    I do believe Bitcoin btc will keep going up and the value of the network is based on the size. I think $500K within 5 years and $1M within 10 years is possible

    In examining your comments, you make a very good point and I now agree with you that hodlers are encouraging people to buy and become hodlers like us

    The growth of the network increases the value of the network. You can google "Metcalfe's law and bitcoin"

    It's about 250M cryptos worldwide users (about half hodl bitcoins) and the goal is to get to 1B within the next 5 years

    FB, Twitter, Snapchat, TikTok and all networks have more value when they have more users

    Imagine if you start a network for owners of dead dogs and you only have 1,000 users that are using it. It would not have much value, if anything at all


    Taking full custody of bitcoins and cryptos via local wallets is a big responsibility. If your files get corrupted, or lost or stolen, you will lose your bitcoins and cryptos forever

    If you are unable to handle the responsibility, do not invest in cryptos and withdraw them to local wallets

    Ok, I think we've established that bitcoin and cryptos are not suitable investments for you, so I will not "push" any more :D

    I would encourage you to continue on your education. More knowledge is always better than less knowledge
     
    #61     Dec 15, 2021