Like every Bitcoin evangelist, there was a time in 2013-2016 that I would bring up Bitcoin at every family gathering, get-together with old friends and reunions with college buddies. My friends at work absolutely made fun of me!! No one was interested The nicer reactions are the empty looks, like talking with someone but nothing clicks and no real questions. Polite listeners, but not interested I did that because it clicked on me, the value of Bitcoin as a superior investment asset, a bearer asset, a global asset, a store of value and I wanted my family, my friends, even my acquaintances to benefit from my knowledge And even now, Bitcoin and cryptos evangelists are ridiculed here on ET. As if we're fucking snake oil salesmen trying to peddle something of no value. I many times wonder if it's worth posting here on ET for all the shits that we get... And then I reflect. I've been fortunate. My family has benefited greatly from this greatest wealth creation in the history of the world that is Bitcoin and crypto assets. So, let's just enjoy it and keep posting, what the hell, the world's about to end anyway, just have fun with every moment we have
I agree it's something you can trade. That's how I became aquainted with Johnarb, we had a discussion on whether you would make more trading than buy and hold. Look for me in the middle of the province. I'm all for a decentralized medium fo exchange. I just don't think it should be a get rich quick scheme. Actually I'm an old fart and naevely believe in the financial institutions I deal with. I trust my bank and broker. I feel like I might have some recourse if someone steals my credit card. Errors made by brokerage employees have been corrected. I'm not sure that happens with bitcoin. And I agree that BTC is neither a productive asset or a physical commodity. I should have said that I don't have a method of valuing bitcoin that I'm comfortable with. I'm not going to invest any money in any asset just because I see an ad that says I'm missing the opportunity of a lifetime. If I want to do that I can play penny stocks. The supply demand right now seem to be weighted towards the supply side even though there is a limited supply. Price is the measure and price keeps making lower highs in the short term. I agree it is also making higher lows so something should give shortly but I'll wait and see. At the present moment I don't hold any bitcoin or any other crypto assets in my portfolio. Heavy to cash as the stock market has been selling off.
Once I bought a lottery ticket and won 6 digits with it.* Since then at every family gatherings I wouldn't stop talking about playing the lottery. At first I only got blank stares then my uncle won 10K. Since then every week everyone in the family spends 4-500 bucks on lottery tickets. We can feel the millions pouring in. If not this week, the next months... *Not a true story, just making an analogy