It is not an inflation hedge, should be 100k now if so. It is a risk on Asset that you need a bigger fool to buy if it isn’t stolen from you. Plain old gambling. Bet what you can afford.

My view. When, you post stuff like,"Why parasites don't like bitcoin," do expect a positive effect? I do not own bitcoin but have no choice but to be aware of it.

It is interesting that it has spread this far. It's "value," is compared to the dollar. The dollar is no longer backed by gold and silver, Nixon as well as opening trade with China, did that. The dollar is backed by the full faith and credit of the United States.
I think most would think that is of depreciating value.

Bitcoin is backed by NOTHING. Even who or what created it is unknown. HUH? You can buy fake real estate and even non-existent yachts in the non-existent world called the metaverse.

A better currency? Bitcoin regularly swings 6% plus on a day. Our stock market is down, if I recall 14% from it's peak. Our dollar has lost CPI 8.7%. Bitcoin has lost half it's ?? Value.

It is so much like the Ponzi scheme of 300 years ago on tulip bulbs.

I think you've just said it yourself, the dollar is of depreciating value. There are 1/3rd more dollars now vs. just 3 years ago. It's true bitcoin is volatile....but it's a measure of value that governments can't jack with. They can't just print more bitcoin. If you dislike government shenanigans with money then bitcoin starts to look pretty appealing.

As far as non existent yachts in a non existent world...well I'd use the coca cola logo as an example. It's red ink on white paper, nothing more, but it's obviously worth a lot of money so maybe it's the same for these new types of "things"?

Joe

It is the only property that you can actually own...No Counterparty, limited to 21M Bitcoins, and cannot be stolen from you by parasites like muggers, voters, and their politicians. It is highly volatile in terms of fiat currency so you need good speculation skills. It would be nice if people actually watched/understood the video before commenting. It does require conceptual thinking ability. He is a MIT scientist.

With the "You will own nothing and you will be happy" parasites infesting the entire world, you would be a fool not to own Bitcoin.

MIT scientist? I worked with a bunch of actuaries who were considered mathematical superstars and could pass all kinds of difficult tests. The other side of the coin was that they wore loafers because they couldn’t figure out how to tie their shoes. Sometimes book smarts and street smart’s don’t necessarily intersect.

Explained in four words and one statistic, “ down 54% year to date”.

Sometimes? I think Most times is more accurate, in my experience.

I think the big question is…..will Bitcoin go up or down vs the dlollar over the next 10 years? Inflation is really a thing these days for dollars but volatility is a thing for Bitcoin.

Joe

What Bill Gates recently said:

Bloomberg - Are you a robot?

He poo poos crypto along with nfts and claims they don’t solve a problem. Which kinda means he doesn’t appreciate how crypto allows everyone to “hold the ledger” instead of only a chosen few.

Joe

PARASITES ??
Have a read at history, as those that don;t understand history are doomed to repeat it.
Dutch Tulip Bulb Market Bubble Definition

I must be old fashioned I see no relationship between bit coin and the value of the COKE logo.

In terms of an investment, I own K as stated I do not own bitcoin and have no faith in it.
Buying something where it is unknown who created it. Faith that it can't be reproduced? Actual bitcoins, there are tons of fakes around. As stated, compared, the tulip bulb Ponzi Scheme some made a lot of money due to wild swings. Bitcoin offers that. Right now the swing is DOWN and that seems to be the momentum. Will it change? Will it recover to the price you paid? I do not know. I truly wish you well.
I'm not in it. I've given my reasons.

A store of value? All kinds of thing have been used as money. A buck was a a buck, a deerskin. A shot of whiskey was because you could trade a bullet for it. Bitcoin the value changes every second, you need a WORKING computer and a broker to turn it into coin of the realm.

In terms of investing, bitcoin is not the only thing I am not buying.

The parasites hate Bitcoin because they want to "hold the ledger" so they can continue to own us all. Control the oil you control the nation. Control the food you control the people. Control the money you own everything and everyone. Imagine if you could "legally" type whatever number you wanted into your own bank account. You could literally steal everything from everyone. That's what they do. They call this theft "Central Banking".

Bitcoin: No Counterparty...It is not a security...It is property.

Try and follow this :) In terms of physical reality, aka, energy.

https://www.youtube.com/watch?v=dXix6OIU1hw

LOL!

Can’t argue about volatility but this pullback isn’t as big as 17-18 was. And you do need a computer but a certain amount of infrastructure is needed for most anything these days. I’m not aware of any fake Bitcoin out there… that’s one of the best things about it.

Will it go the way of the pet rock or the the way of the internet?

Joe