Quote:
Originally Posted by Boston-Sean
This thread should be forwarded to our new ministry of truth. Several posters would be indicted for misinformation.
I'll add one more thing ... BTC has been trading since 2011. It's currently at $38K. It's only traded above $38K for a little over a year. So every purchase made for the first 10 years was at a price below what it's trading at today. Pretty much all the HODL'ers are ahead of the game. Some of us by a LOT.
OK, 2 more things. Bitcoin IS exclusive. Only about 2 million more will ever be mined. Unlike those green pieces of paper in your wallets which get created out of thin air daily. The exclusivity is what sets BTC apart from Fiat currencies.
Ethereum is the only other significant crypto and serves a different purpose than Bitcoin. If you want to compare 99% of the rest of crypto's to tulips go ahead. But not Bitcoin.
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^^ Agreed.
There are strict rules on how many Bitcoin will ever be mined/produced. Which is not the same with the dollar. Do you realize that your government increased the total number of dollars by 1/3rd in the last 2 years? They have been doing it and will keep doing it....making the dollars in your wallet worth less and less.
Dollars are only worth something because we all agree they are worth something. Not unlike Bitcoin. Dollars have been around longer and have the "full faith of the US Government" (which...what does that even mean anyway??) but they are both currencies. One can be manipulated, one cannot.
Obviously you might want to think twice about putting it all on Bitcoin. But if it goes to $500K per in a few years you might look back and wish you picked one up somewhere along the way.
Joe