it is not. Not until 2120 or so. Why the fuck do I have to kill this myth every time? Also, deflation is not a good thing for a currency, it encourages hoarding and stops spending. In a thriving economy, you want people to spend their savings...
As someone who recently purchased a Bored Ape Yacht Club (BAYC) NFT who is not a celebrity and as a person who considers $400K to be a large sum of money, I can only offer my perspectives on the decision making I knew of the Bored Ape since last year when it was worth only 4 or 5 figures $-wise, but I was not looking too deeply into the NFT sector of the cryptos ecosystem, and so like many I did not acquire a Bored Ape Contrary to popular beliefs here on ET and outside of ET, owning a Bored Ape does not simply mean a passive investment of looking at a jpeg that anyone can download Owning a Bored Ape provides valuable airdrops, think of them like surprise dividends There are also numerous membership benefits when owning a Bored Ape This investment is superior to "owning" Amazon shares or Tesla shares Owning a Bored Ape also means 24/7/365 trading unlike traditional investments that have schedules of allowable trades like Sotheby's auction of art pieces Last Bored Ape airdrop was worth ~$150K and still own the Bored Ape no matter if the airdrops are sold https://www.startwithnfts.com/posts...ape-yacht-club-the-nft-project-making-history Risk vs Reward Holding period for the investment So to purchase a Bored Ape now when the airdrop of ~$150K had just taken place a couple of weeks ago does not seem like prudent risk-reward assessment But actually, Yuga Labs (company behind the issuance of BAYC NFT's) provided a sneak peak video of a landsale with a Koda NFT. There's also a leaked pitch deck TL;DR, there's a strong possibility of airdrop(s) this month (April) per the Otherside video and leaked PD The Yuga Labs rasied $450M which means $$$ funding to really kick into high gear the development efforts, plus a lot of partnerships with the biggest players in the industry, i.e. Animoca Brands So, once decided to purchase a Bored Ape, simply accept that the investment is lost until the Bored Ape has been liquidated (sold) -------------------------- Then decide on how long to hold a Bored Ape as an investment, in which case, until end of the year seems like a good time period. Just continue to monitor for major news of the BAYC project -------------------------- Collect the airdrops to realize part of the investments or for liquidity $$$ -------------------------- Links below: Pitch Deck leaked https://www.fastcompany.com/9073289...cht-club-plots-one-metaverse-to-rule-them-all
I would venture to say by the tens of thousands of miners that keep the network running. The US has the military, but the whole "invading other countries because of oil" is getting old. People are starting to wake up to the fact that the US is a big bully. And this is the only thing that the military is really good for. But with BTC, the miners are spread over very many countries and continents. So in a way, it is a global army. I'm sure others can answer your question much more eloquently and with more insight. But given how much brains, computing power and electricity go into it, its a force to be reckoned with.
Doing what, exactly? Solving puzzles and consuming energy? And this creates a store of value worthy of being a stable medium of exchange over the long run? How? Please connect the dots for me. Sorry, just my opinion: