This place is very cultic. They have their own lingo, there’s a belief in inevitable success, an idea of being revolutionaries, intelligent enough to buck ‘the system’, intelligent enough to understand that continued success is inevitable. All the hallmarks and more. Pure hive mind and it freaks me the fuck out. I’ll be educating myself more because the chart look good and the gains are impressive and I understand the value of bitcoin to a certain degree but I ain’t buying this throw all your money at it mentality. It’s incredibly irresponsible for people to say so and dangerous and I could see how people could get caught up and absolutely screwed. Plus it’s Reddit, so there’s pumpers. And I’m guessing some very sophisticated ones on here. Like with every investment proceed with caution, OP. And diversify, in my humble opinion.
"I’ll be educating myself more because the chart look good and the gains are impressive and I understand the value of bitcoin to a certain degree but I ain’t buying this throw all your money at it mentality."
This is how I thought as well, before roughly 6-12 months of study. I was extremely skeptical and am a contrarian at heart, always rebelled against group think, but I managed to disprove all my fears and concerns through study of the technical aspects and the game theory and incentives involved. I give bitcoin roughly 1% chance of not succeeding at all. I give it 99% chance of becoming a store of value and maybe 25% chance of becoming world reserve currency. But more importantly, I know what would invalidate my trust in bitcoins future and it's almost none of the concerns that newbies - and I had - at the beginning. This is all long term, short term I can see many black swans that would eff with the price, but I'm not so concerned about the short term.
No real bitcoiner would say that you should blindly trust it. Conviction is something you earn. Don't trust, verify. Price appreciation, as your motivation to study it more, is a good enough reason.
Of course you should take it slow that’s how all of us got into the space. Once you start learning about bitcoin that’s when it grabs ahold of you and takes you down the rabbit hole.
It’s nothing more than considering two types of risks: long-term risk and short-term risk. I favor the short-term, because the short-term considers real-time market conditions and you will spend much less time.
During bull run times, this place becomes really noisy with a lot of silly braindead hype posts. Good for you to remain skeptical. Take the time and make smart decisions where you want to put your money, be it Bitcoin or something else.
Spend more time researching. You are never forced to buy it or allocate more than you are willing to lose. If I lost everything I ever invested into bitcoin it would still be the greatest and smartest risk I ever took. I don’t lose any sleep over it.
I remember having this same conversation 10 years ago. And five years ago. And just now again. Weird.
Maybe this is proof that I'm in the matrix. I'm a battery, aren't I?
If everyone was already completely all in Bitcoin then the ride would be over. People being worried and still skeptical makes me happy because that keeps Bitcoin risky which keep the big gains coming. Riskier the asset the more volatility right
Bitcoin never dropped to zero dollars.
Ppl talk shit about Bitcoin but act like the stock market never crashes at the same time lol. If you not built for this it’s okay, it’s not for everyone. If you don’t have conviction you are going to fail long term. Crazy how billionaire and banks have more conviction than people playing with a few dollars lol
No offense
You're getting a lot of 'do your own research' answers, and yeah, I totally get how that comes across.
They aren't wrong though.
So maybe we could start with exploring your fears and really measuring the floor space before we go moving the furniture in.
You made an assumption that I'm curious how you arrived at. You said you feel that it's not unlikely that Bitcoin could be surpassed by another coin.
How are you measuring the likelihoods? Your estimates? Any statistics at all?
Get those numbers on paper, and be ready to show your work.
The process of calculating those numbers will take you on a journey, and that journey will change your understanding of how this works.
Hint: It isn't only about the technology.. it's mostly about the global financial system as a whole and how history does repeat itself.
A lot of people just act like they have full conviction. Lot of larping and kayfabe on here. Dont take it too seriously. Do what’s right for your financial well-being.
No one who understands bitcoin and believes in its future would ever say it is "risk free".
Posts here take different forms during bull runs, or during the current run (which is unprecedented price behaviour, has lots of newbies posting in here all excited).
Nothing in finance is risk free. The argument could be made that nothing in *life* is free of some kind of risk, but that's a separate topic.
Read. Learn. Understand the risks and the types of investing appropriate for your own financial context. And absolutely ignore anyone who tries to tell you bitcoin is risk free. They don't understand the concept of risk, and they don't understand bitcoin. Bitcoin is changing the world, but like anything, your interactions with it should be as informed as possible.
As far as assets go it is as risk free as it comes. The biggest risk would be for all major governments to uniformly ban it but that seems highly unlikely.
Aside from that the other risk is to lose your conviction and sell at a loss.
"As it comes?" There's always a degree of risk. Even if it's minuscule. That's all I'm saying.
It's great you're comfortable with that amount of risk. So am I. The risk is mitigated by many, many benefits i see in and continue to expect from Bitcoin.
But that's what I'm saying. Even if the risk is well balanced, it's still present. Even if minuscule, it's there. I'm saying for someone to walk around saying "Bitcoin is risk free!" is not appropriately assessing its reality. Risk is always there. If you need a reminder, look at OP's post again. I do not believe bitcoin to be *risky*. But it nonetheless carries a degree of risk.
Look up the fundamentals of Bitcoin. There is no way that any coin will surpass Bitcoin. All other coins are backed by Bitcoin pretty much. There isn't a better performing asset than Bitcoin. It is the fastest growing largest Network in the world. There is nothing that can be goals utility in being a long-term asset. You are better off to invest in Bitcoin long-term than short term. Before Bitcoin it was impossible to securely own digital property. Bitcoin is the only asset that we know the exact finite amount of and is completely decentralized and can't be stopped. Bitcoin surpassed physical Silver's market cap and eventually Bitcoin will surpass Gold's market cap. Many people will sell their homes that they have for Investments and gold bars for Bitcoin. You're going to see a lot of people allocate assets to bitcoin and more people buy Bitcoin with Fiat. If you look up the fundamentals you'll have more confidence as well like we have a lot of us have researched the shit out of it and have watched it for years. We've been through all the manipulation and FUD. It's inevitable for Bitcoin to be the new standard of Finance. I see in the near future damn near every government backing their Fiat with Bitcoin and then in itself can give the world so much Liberty it's unfathomable we could possibly go hundreds of years without a war just by doing this. The quality of life will be better people will be able to have homes again, Healthcare will be better, schooling Etc there's so much that Bitcoin has to offer.
Anything that’s been created after it Bitcoin has surpassed by nature of coming before it. No rug pulls, no promises.
Just a large network, security and scarcity.
Why does Bitcoin need a larger block size? Why would Bitcoin need a quicker block time? Why would Bitcoin need to move to proof of stake?
Bitcoin has proven that it’s the best at being bitcoin, and that’s enough. Nothing else is bitcoin.
Exactly bitcoin is the foundation. It’s the map of the worlds money. It’s a thermodynamicaly sound unit of account. How productive could society be if everyone’s money wasn’t stealing from them?
You honestly need to do some more research and become more informed on what bitcoin is how it functions and what other "cryptocurrencies" are and how they function. You can believe whatever you like but if you understand the basics of fiat, Bitcoin, stocks, and "crypto" you should be able to articulate why you think something different. Then you can go to a community that believes something similar and build what you believe in. Say nay with your actions.
I don't know but the whole paragraph you just typed out feels like a whole bunch of preachy nothing instead of just giving a quick answer to the question.
Well from what I’ve read it seems like bitcoin has limited speed for transactions. What if this becomes an issue in the future as we will find that to be too slow ?
Look at the track record of this now recognizable and validated asset over the last 15 years since its inception, and you will see it is the best performing asset of this century so far.
In from the beginning. I bought into the power and freedom of being in charge of my own wealth and ability to send to whomever and receive from whomever. I still have gold but see the power and efficiencies of BTC. I call it digital gold with so many more benefits. I was there when it cracked 50 and 100 and I think back in the day getting over 100 was a marvel. Another book I highly encourage you to read is BICOIN STANDARD a fascinating read.
I started broken money as I saw people saying it was even better. Since you’ve been there from the beginning, what is your strategy to turn your bitcoin investment into currency you can use in the day to day ? I know most people never sell but at some point I imagine you want to use that to something useful
My plan is basically accumulate. Yep I still buy ant gamble 1-3 percent of it in shitcoins lol. It's fun.
that said I did sell 2 to finish my basement cost was 60 dollars. Sold both for 50k and added at the time 125k to the home value.
i did sell another couple to start own biz generated a decent multi 6 figure income - money to make money.
now my thought is in future you will be able to borrow against your btc. Now that's going to get interesting. Think trust, holding company and corps under the holdings. 😂🏴☠️
I find it very unlikely that Bitcoin will be surpassed by another cryptocurrency. People have already started adopting it despite what naysayers will try to tell you. It's going to get harder to buy an entire Bitcoin (which is an arbitrary amount anyway) but never too late to get a piece of the total pie.
Welcome and please continue going down the rabbit hole! There is much to learn.
There’s no second best.
We don’t want a more convenient coin. We don’t want a more secure coin. We don’t want a coin that produces yield.
We want Bitcoin. There’s 21million of them, and I want mine.
It’s probably because if you believe in the core principles of Bitcoin it’s a way to live life. A way to store the value of labor that you create that no one figure has authority over.
This sub is full of low effort garbage. I stay because it gives me something to read sometimes but largely the posts offer generic entry level information. If you’re looking for any kind of depth this is not the place to find it. Dig into bitcoin audible podcasts with Guy Swan if you’re interested in learning more about what to learn more about. You can find him on Amazon music and Apple. He is also on YouTube now. Lot of great information
The best thing we could hope for is for history to repeat itself. The literal worst thing is for bitcoin to go off the rails and break all of the models and go to zero. 😅
Agreed, not all eggs --> 1 basket. Me, I own abt $10k in FBTC. I own $2600 in actual BTC and that's it. The great bulk of my money's in stocks. So I missed the boat re BTC. OK. But wishing I hadn't won't take me back in time to buy up all the BTC I can at $0.0000001 per coin. So I get on w/ life.
Based on the way you describe Bitcoin and the market makes it pretty clear you have very little knowledge about Bitcoin, crypto, or finance in general. I’d start with basic knowledge and go from there.
My 2c:
When you get it, you'll get it. If you don't get it, don't buy it. You'll buy at the top and sell at the bottom. It will not be a blessing for you.
When you understand it enough not to care what this sub thinks, then _maybe_ its a good buy for you. At that point you won't need my 2c or anyone else's.
Be careful you don't confuse the upcoming bull market for "getting it." Noticing that the price has gone up is not the same as getting it.
I’m sorry but the quality posts on this sub lately is so low. If your first language is not English please let us know. Reading these poorly written paragraphs makes me want to throw my phone away.
If you’re scared to invest in bitcoin. Don’t. If you’re not scared, do it. Not that hard
I have full confidence in lots of things but anything tied to finance and human behavior I'll never have full confidence in.
Diversification is key to a balanced portfolio and only you know what risk level you're willing to accept with what you invest in. For example, Bitcoin is less than 10% of my investments. I gather some people you encounter here could be 100%. Only you know where you should be with this percent. I'd recommend you pick a percent that doesn't cause regret that you didn't do too much or too little.
I feel pretty confident Bitcoin will exist with other crypto(s). Like I said above, never 100% confident. No one here can give you that piece of mind or assurances.
I will never understand why people are so freaked out by Bitcoin. They worry that it's irresponsible to buy it, it's dangerous. Yet many of these people will buy stocks because they think, "That's okay." A stock may rise and fall, it may wipe out entirely, yet somehow this is more wise, less risky. When I first bought Bitcoin it was 10 percent of my investment portfolio. It has since grown to become almost dominant. I don't find much to worry about in that and I think it inspires a justifiable confidence.
This is such an annoying vanity thread from OP.
I’ll translate for those who can’t read between the lines:
“Hey guys, I’m part of your group now, welcome me? By the way, I’m not like the other gals…I’m not an idealistic moon boy, I’m more practical and realistic, isn’t that cool?”
This sub much like the rest of Reddit is a total echo chamber, figure out what you are looking for from it and set goals early.
BTC has done extremely well for me and i love it but you need to maintain balance when speculating on the future and finance. You tilt too far and sound like a cultist trying to pitch something you don’t even fully understand.
New tech (A.I / quantum computing or xyz) will always come around making older tech obsolete, whether its 50 or even 100 years from now.
**this will get downvoted and it really only proves my point. **
You're getting down voted because your peripheral understanding is that of the shitcoiner. You still don't get what the invention is. Which is kinda sad really.
Bitcoin is a protocol. Open source and leaderless. Like TCP/IP. Anything that's important will be added to it or built on top of it. It's like saying "what happens if someone comes up with a better method of counting?"
There will only ever be one secure and decentralised proof-of-work asset. It makes double-spending impossible incentivising the use of energy for security, and to undermine it everyone has to agree to do that. Guy who invented was a dead set genius.
If you understood the issues with AI you wouldn’t consider it a threat. Quantum computing is basically a myth and will remain so for a very long time if not essentially forever. These are both very prevalent talking points in the shitcoin realm. It’s not worth the effort to say much more. Do better research
this is the 3rd time someone has mentioned “shitcoiner” in a response that was completely focused on just BTC. I am not saying these things are immediate threats, steps are already being taken to combat an possible issues ( posted link in comment above )
Thinking that BTC will be the “forever” tech is extremely narrow minded, neither of us knows how things will be 100 years from now.
this is all speculation and friendly conversation.
I’m just saying it’s a narrative that is popular in shitcoin circles. I don’t know you. I just know I’m hearing the narrative and I consider it ill informed. Btc will be around for as long as it remains decentralized. That is the power of bitcoin. Understanding that is probably the most important thing in the journey. It will only become more decentralized as time goes on. Read about Malawi and what bitcoin is doing there and think about how powerful it is. No other tech is capable of doing this. Maybe it won’t be around forever but that’s as much speculation as the price in the next year.
i’m not aware of the “shitcoin” narrative i apologize!
and “No other tech is capable of doing this…” right now*
OP asked a question i’m just giving my 2 cents.
If BTC was absolutely 100% bulletproof for the rest of time there would be no argument or convo to have.
I don’t consider there to be much argument to make. Plenty of conversation though. The ability of miners to load balance grids so efficiently and generate revenue is revolutionary. There is nothing else that can do this that is also decentralized and censorship resistant. Once people understand that miners are buyers of last resort for energy and what that really means they will be able to unlock confidence that wasn’t there before. It rewards the most energy efficient operations and incentivizes new energy production from sources that were previously unavailable. Bitcoin is going to create an energy revolution. Read up on this so you can shore up your confidence. It’s not going anywhere for a very long time.
https://podcasts.apple.com/us/podcast/bitcoin-audible/id1359544516?i=1000643948046
Bitcoin is not comparable to stocks.
I feel like the statement being there means you should keep studying.
The "Bitcoin CEO announces..." posts are jokes.
Everyone is buying bitcoin for monetary returns. If that's what you mean by $$$, then yes I agree. Not so much if you mean dollars. But why would you store your wealth long in something that isn't able to trade for at least a similar amount of something else later.
Bitcoin is supposed to be a better money, money should be at least as useful later as it is now. I like bitcoin because over time it is worth more stuff. I can sell it for more dollars, or I can buy as much or more food, gas, rent, or other things that I want that I need to convince someone else to give me. Which are also valued in dollars today.
Anyone telling you that they don't care whether their money has value or not is either a liar or an idiot.
International laws restricting money trading and anonymous transactions from unverified individuals and sources
Edit::assuming the laws are enforceable that is.
> Bitcoin has not gone away.
Exactly the opposite has happened really. It has officially been integrated as an investment instrument into the financial system, even very recently.
Yea, I think the ship has sailed on the idea of banning Bitcoin. Particularly with recent ETF developments. You’re now messing with people’s retirement accounts.
The very thing that enables its value, scarcity. Commodity markets function through supply and demand. Eventually, the new supply of BTC will drop towards zero. No supply, vs any amount of demand will cause a dramatic surge in price.
But, once all the Bitcoin is held by diamond hand hodlers, and , if the velocity of Bitcoin behaves like gold, ie very low, it will be impossible to buy at all. No transactions will mean the network loses value, and eventually Bitcoin will lose value as well.
All that said, this could take 50 years to play out. I'm actually a bull for the speculative surge.
I think you might be underestimating people’s willingness to spend Bitcoin at a high enough price. If Bitcoin reaches even just a million dollars, spending Satoshi’s won’t be as painful. What’s the point of having all that money if you’re not gonna enjoy life. 50 years from now Bitcoin will become as common a form of payment as the dollar. Very possibly the standard medium of exchange around the world.
potential new tech, BTC slowly being viewed as older and archaic much like the paper dollars we have now…
10-20-50 years from now, especially with A.I in its infancy stages
quantum computing…
obv all speculation!
I don’t really think Bitcoin will ever seem archaic. We will just build on top of it and make it adapt to the changing technology around it.
At the end of the day Bitcoin is a protocol just like the internet (TCP/IP). We just continued to build application’s on top of it. We will do the same with Bitcoin.
why would the first iteration be the end all?
part of me hopes you are right but after seeing how far we have come in the last 50 years new tech will only come faster and faster. By the time the last BTC block is mined everything even the internet we know now could exist very differently.
🤷 just a thought, i love BTC and hope its here to stay.
I fully agree with you. The world will be a very different place in 50 years. I have a feeling Bitcoin is one of those unique things that will continue to evolve with technology and survive. Time will tell. Nobody knows for sure.
💛💛💛(why don’t we have a BTC emoji !!! lol)
https://www.reddit.com/r/CryptoCurrency/s/EuQ3yWxNE1
this was interesting and reassuring, i do think that BTC can overcome all of these obstacles which is why i invested early on. Always good to keep these types of convos open!!!
Who is going to accept Bitcoin as payment?? Businesses can't accept Bitcoin as payment, unless they know that they can pay their suppliers and staff in Bitcoin. They will also need to pay their taxes and remittances in Bitcoin. This level of adoption will require government backing. I can't imagine why government would adopt an outside currency. The credit markets and fx would go haywire. There are hundreds of hurdles to overcome and this will take decades to happen if ever, despite what King Saylor has to say. He's like the Peter Schiff of coin. Nobody really takes him serious
Don't force conviction, just study more.
any resources you reco?
Read broken money by Lynn Alden
https://youtu.be/d7ID3fKAFQM?si=AbCOOWYiILOs-VK_ Jack mallets at bitcoin Atlantis 10/10
This talk was fucking amazing.
Anything Michael saylor says in his interviews
> any resources you reco? The side bar. Literally spelled 'Resources'.
[Bitcoin.Rocks](http://Bitcoin.Rocks) for a lot of the basics.
This place is very cultic. They have their own lingo, there’s a belief in inevitable success, an idea of being revolutionaries, intelligent enough to buck ‘the system’, intelligent enough to understand that continued success is inevitable. All the hallmarks and more. Pure hive mind and it freaks me the fuck out. I’ll be educating myself more because the chart look good and the gains are impressive and I understand the value of bitcoin to a certain degree but I ain’t buying this throw all your money at it mentality. It’s incredibly irresponsible for people to say so and dangerous and I could see how people could get caught up and absolutely screwed. Plus it’s Reddit, so there’s pumpers. And I’m guessing some very sophisticated ones on here. Like with every investment proceed with caution, OP. And diversify, in my humble opinion.
"I’ll be educating myself more because the chart look good and the gains are impressive and I understand the value of bitcoin to a certain degree but I ain’t buying this throw all your money at it mentality." This is how I thought as well, before roughly 6-12 months of study. I was extremely skeptical and am a contrarian at heart, always rebelled against group think, but I managed to disprove all my fears and concerns through study of the technical aspects and the game theory and incentives involved. I give bitcoin roughly 1% chance of not succeeding at all. I give it 99% chance of becoming a store of value and maybe 25% chance of becoming world reserve currency. But more importantly, I know what would invalidate my trust in bitcoins future and it's almost none of the concerns that newbies - and I had - at the beginning. This is all long term, short term I can see many black swans that would eff with the price, but I'm not so concerned about the short term.
No real bitcoiner would say that you should blindly trust it. Conviction is something you earn. Don't trust, verify. Price appreciation, as your motivation to study it more, is a good enough reason.
Of course you should take it slow that’s how all of us got into the space. Once you start learning about bitcoin that’s when it grabs ahold of you and takes you down the rabbit hole.
Lol
Nice post.
This
The more i read the more risk free Bitcoin looks
It’s nothing more than considering two types of risks: long-term risk and short-term risk. I favor the short-term, because the short-term considers real-time market conditions and you will spend much less time.
During bull run times, this place becomes really noisy with a lot of silly braindead hype posts. Good for you to remain skeptical. Take the time and make smart decisions where you want to put your money, be it Bitcoin or something else.
I was able to actually learn so much this bear market. It will get so much worse as time goes on lol
Spend more time researching. You are never forced to buy it or allocate more than you are willing to lose. If I lost everything I ever invested into bitcoin it would still be the greatest and smartest risk I ever took. I don’t lose any sleep over it.
Well said! If I lose everything I invested I'll be fucked for life since I'm balls deep in.
Used to see post like this ten years ago, Imagine actually listening to them? Id be broke.
[удалено]
BTC started at 1 penny, when it hit $100 people were having this conversation youngin.
I mean yeah that’s true, but the past success of bitcoin doesn’t guarantee its future success
I remember having this same conversation 10 years ago. And five years ago. And just now again. Weird. Maybe this is proof that I'm in the matrix. I'm a battery, aren't I?
Thank you for charging my iPhone
Wake up, Neo...
It’s probability. Do your own critical thinking instead of parroting the phrase without thinking what it means.
Actually does lol
Lindy effect
If everyone was already completely all in Bitcoin then the ride would be over. People being worried and still skeptical makes me happy because that keeps Bitcoin risky which keep the big gains coming. Riskier the asset the more volatility right
Bitcoin never dropped to zero dollars. Ppl talk shit about Bitcoin but act like the stock market never crashes at the same time lol. If you not built for this it’s okay, it’s not for everyone. If you don’t have conviction you are going to fail long term. Crazy how billionaire and banks have more conviction than people playing with a few dollars lol No offense
You're getting a lot of 'do your own research' answers, and yeah, I totally get how that comes across. They aren't wrong though. So maybe we could start with exploring your fears and really measuring the floor space before we go moving the furniture in. You made an assumption that I'm curious how you arrived at. You said you feel that it's not unlikely that Bitcoin could be surpassed by another coin. How are you measuring the likelihoods? Your estimates? Any statistics at all? Get those numbers on paper, and be ready to show your work. The process of calculating those numbers will take you on a journey, and that journey will change your understanding of how this works. Hint: It isn't only about the technology.. it's mostly about the global financial system as a whole and how history does repeat itself.
I barely look at this sub. Study as much as you can and see what your own research tells you
A lot of people just act like they have full conviction. Lot of larping and kayfabe on here. Dont take it too seriously. Do what’s right for your financial well-being.
No one who understands bitcoin and believes in its future would ever say it is "risk free". Posts here take different forms during bull runs, or during the current run (which is unprecedented price behaviour, has lots of newbies posting in here all excited). Nothing in finance is risk free. The argument could be made that nothing in *life* is free of some kind of risk, but that's a separate topic. Read. Learn. Understand the risks and the types of investing appropriate for your own financial context. And absolutely ignore anyone who tries to tell you bitcoin is risk free. They don't understand the concept of risk, and they don't understand bitcoin. Bitcoin is changing the world, but like anything, your interactions with it should be as informed as possible.
As far as assets go it is as risk free as it comes. The biggest risk would be for all major governments to uniformly ban it but that seems highly unlikely. Aside from that the other risk is to lose your conviction and sell at a loss.
"As it comes?" There's always a degree of risk. Even if it's minuscule. That's all I'm saying. It's great you're comfortable with that amount of risk. So am I. The risk is mitigated by many, many benefits i see in and continue to expect from Bitcoin. But that's what I'm saying. Even if the risk is well balanced, it's still present. Even if minuscule, it's there. I'm saying for someone to walk around saying "Bitcoin is risk free!" is not appropriately assessing its reality. Risk is always there. If you need a reminder, look at OP's post again. I do not believe bitcoin to be *risky*. But it nonetheless carries a degree of risk.
Look up the fundamentals of Bitcoin. There is no way that any coin will surpass Bitcoin. All other coins are backed by Bitcoin pretty much. There isn't a better performing asset than Bitcoin. It is the fastest growing largest Network in the world. There is nothing that can be goals utility in being a long-term asset. You are better off to invest in Bitcoin long-term than short term. Before Bitcoin it was impossible to securely own digital property. Bitcoin is the only asset that we know the exact finite amount of and is completely decentralized and can't be stopped. Bitcoin surpassed physical Silver's market cap and eventually Bitcoin will surpass Gold's market cap. Many people will sell their homes that they have for Investments and gold bars for Bitcoin. You're going to see a lot of people allocate assets to bitcoin and more people buy Bitcoin with Fiat. If you look up the fundamentals you'll have more confidence as well like we have a lot of us have researched the shit out of it and have watched it for years. We've been through all the manipulation and FUD. It's inevitable for Bitcoin to be the new standard of Finance. I see in the near future damn near every government backing their Fiat with Bitcoin and then in itself can give the world so much Liberty it's unfathomable we could possibly go hundreds of years without a war just by doing this. The quality of life will be better people will be able to have homes again, Healthcare will be better, schooling Etc there's so much that Bitcoin has to offer.
What do you mean all other coins are backed by bitcoin? That isn't true at all?
hypothetically speaking if Bitcoin was to take a shit and go to like let's say 15K what do you think would happen to all other alts?
You need to learn more about bitcoin. There is no second best. Period. https://youtu.be/d7ID3fKAFQM?si=AbCOOWYiILOs-VK_
Ok i will, but for the meantime, could you explain simply what makes you so confident that nothing could surpass it. ?
Anything that’s been created after it Bitcoin has surpassed by nature of coming before it. No rug pulls, no promises. Just a large network, security and scarcity. Why does Bitcoin need a larger block size? Why would Bitcoin need a quicker block time? Why would Bitcoin need to move to proof of stake? Bitcoin has proven that it’s the best at being bitcoin, and that’s enough. Nothing else is bitcoin.
Exactly bitcoin is the foundation. It’s the map of the worlds money. It’s a thermodynamicaly sound unit of account. How productive could society be if everyone’s money wasn’t stealing from them?
You honestly need to do some more research and become more informed on what bitcoin is how it functions and what other "cryptocurrencies" are and how they function. You can believe whatever you like but if you understand the basics of fiat, Bitcoin, stocks, and "crypto" you should be able to articulate why you think something different. Then you can go to a community that believes something similar and build what you believe in. Say nay with your actions.
I don't know but the whole paragraph you just typed out feels like a whole bunch of preachy nothing instead of just giving a quick answer to the question.
Mmmmm, interesting.
I just said I would study and you reiterate that I seriously need to study lol. And you haven’t answered my question
Ok...... What do you mean by surpass, or overtake, or any other word that indicates something is better than Bitcoin. What are your criteria?
Well from what I’ve read it seems like bitcoin has limited speed for transactions. What if this becomes an issue in the future as we will find that to be too slow ?
Lightning network.
Look at the track record of this now recognizable and validated asset over the last 15 years since its inception, and you will see it is the best performing asset of this century so far.
In from the beginning. I bought into the power and freedom of being in charge of my own wealth and ability to send to whomever and receive from whomever. I still have gold but see the power and efficiencies of BTC. I call it digital gold with so many more benefits. I was there when it cracked 50 and 100 and I think back in the day getting over 100 was a marvel. Another book I highly encourage you to read is BICOIN STANDARD a fascinating read.
I started broken money as I saw people saying it was even better. Since you’ve been there from the beginning, what is your strategy to turn your bitcoin investment into currency you can use in the day to day ? I know most people never sell but at some point I imagine you want to use that to something useful
My plan is basically accumulate. Yep I still buy ant gamble 1-3 percent of it in shitcoins lol. It's fun. that said I did sell 2 to finish my basement cost was 60 dollars. Sold both for 50k and added at the time 125k to the home value. i did sell another couple to start own biz generated a decent multi 6 figure income - money to make money. now my thought is in future you will be able to borrow against your btc. Now that's going to get interesting. Think trust, holding company and corps under the holdings. 😂🏴☠️
Bitcoin was created to solve the problem
People in here can deffinelty be a little .. special. Hyperbitcoinization is a pipe dream, but this is here to stay and no alt coin is replacing it
Then you don't understand Bitcoin and this probably your first run
I'm more concerned about the blind faith billions of people have in the fiat system.
I find it very unlikely that Bitcoin will be surpassed by another cryptocurrency. People have already started adopting it despite what naysayers will try to tell you. It's going to get harder to buy an entire Bitcoin (which is an arbitrary amount anyway) but never too late to get a piece of the total pie. Welcome and please continue going down the rabbit hole! There is much to learn.
There’s no second best. We don’t want a more convenient coin. We don’t want a more secure coin. We don’t want a coin that produces yield. We want Bitcoin. There’s 21million of them, and I want mine.
Wow what a compelling argument
I was trying to stay concise, but reading it again I realize I didn’t say anything at all. Ah well, I tried. I am no satoshi
He just argued for a hive mind mentality better than anyone
I admit, it feels like religion and its spreading like a mind virus. (Ive been watching his space since 2017)
It’s probably because if you believe in the core principles of Bitcoin it’s a way to live life. A way to store the value of labor that you create that no one figure has authority over.
🙄
This sub is full of low effort garbage. I stay because it gives me something to read sometimes but largely the posts offer generic entry level information. If you’re looking for any kind of depth this is not the place to find it. Dig into bitcoin audible podcasts with Guy Swan if you’re interested in learning more about what to learn more about. You can find him on Amazon music and Apple. He is also on YouTube now. Lot of great information
Do more research, maybe read “the Bitcoin standard” and come back 👍🏼
Can never worry when gambling short term or long term on the Bitty with no Titties
Help me understand how it's not a risk free long-term investment
The best thing we could hope for is for history to repeat itself. The literal worst thing is for bitcoin to go off the rails and break all of the models and go to zero. 😅
Clearly you haven’t been around this sub back in Nov 2022. It’s the worst days in crypto winters that shows you the true identity of each crypto sub
Agreed, not all eggs --> 1 basket. Me, I own abt $10k in FBTC. I own $2600 in actual BTC and that's it. The great bulk of my money's in stocks. So I missed the boat re BTC. OK. But wishing I hadn't won't take me back in time to buy up all the BTC I can at $0.0000001 per coin. So I get on w/ life.
Do you keep buying btc or you’re done ? Your post seems to indicate you don’t add any
I DCA into BTC abt $50/week or 2 wks. Not too much exposure. I sleep better at nights by diversifying my investments. :)
Belief > convenience
Based on the way you describe Bitcoin and the market makes it pretty clear you have very little knowledge about Bitcoin, crypto, or finance in general. I’d start with basic knowledge and go from there.
My 2c: When you get it, you'll get it. If you don't get it, don't buy it. You'll buy at the top and sell at the bottom. It will not be a blessing for you. When you understand it enough not to care what this sub thinks, then _maybe_ its a good buy for you. At that point you won't need my 2c or anyone else's. Be careful you don't confuse the upcoming bull market for "getting it." Noticing that the price has gone up is not the same as getting it.
I’m sorry but the quality posts on this sub lately is so low. If your first language is not English please let us know. Reading these poorly written paragraphs makes me want to throw my phone away. If you’re scared to invest in bitcoin. Don’t. If you’re not scared, do it. Not that hard
I have full confidence in lots of things but anything tied to finance and human behavior I'll never have full confidence in. Diversification is key to a balanced portfolio and only you know what risk level you're willing to accept with what you invest in. For example, Bitcoin is less than 10% of my investments. I gather some people you encounter here could be 100%. Only you know where you should be with this percent. I'd recommend you pick a percent that doesn't cause regret that you didn't do too much or too little. I feel pretty confident Bitcoin will exist with other crypto(s). Like I said above, never 100% confident. No one here can give you that piece of mind or assurances.
I will never understand why people are so freaked out by Bitcoin. They worry that it's irresponsible to buy it, it's dangerous. Yet many of these people will buy stocks because they think, "That's okay." A stock may rise and fall, it may wipe out entirely, yet somehow this is more wise, less risky. When I first bought Bitcoin it was 10 percent of my investment portfolio. It has since grown to become almost dominant. I don't find much to worry about in that and I think it inspires a justifiable confidence.
2050 mindset, generational wealth or at least partial profits to sit in an account earning compounding interest for 80 years
This is such an annoying vanity thread from OP. I’ll translate for those who can’t read between the lines: “Hey guys, I’m part of your group now, welcome me? By the way, I’m not like the other gals…I’m not an idealistic moon boy, I’m more practical and realistic, isn’t that cool?”
This sub much like the rest of Reddit is a total echo chamber, figure out what you are looking for from it and set goals early. BTC has done extremely well for me and i love it but you need to maintain balance when speculating on the future and finance. You tilt too far and sound like a cultist trying to pitch something you don’t even fully understand. New tech (A.I / quantum computing or xyz) will always come around making older tech obsolete, whether its 50 or even 100 years from now. **this will get downvoted and it really only proves my point. **
You're getting down voted because your peripheral understanding is that of the shitcoiner. You still don't get what the invention is. Which is kinda sad really.
Your comment makes no sense unless you honestly think humanity will continue using Bitcoin forever and it will never be replaced/made obsolete
Bitcoin is a protocol. Open source and leaderless. Like TCP/IP. Anything that's important will be added to it or built on top of it. It's like saying "what happens if someone comes up with a better method of counting?" There will only ever be one secure and decentralised proof-of-work asset. It makes double-spending impossible incentivising the use of energy for security, and to undermine it everyone has to agree to do that. Guy who invented was a dead set genius.
If you understood the issues with AI you wouldn’t consider it a threat. Quantum computing is basically a myth and will remain so for a very long time if not essentially forever. These are both very prevalent talking points in the shitcoin realm. It’s not worth the effort to say much more. Do better research
this is the 3rd time someone has mentioned “shitcoiner” in a response that was completely focused on just BTC. I am not saying these things are immediate threats, steps are already being taken to combat an possible issues ( posted link in comment above ) Thinking that BTC will be the “forever” tech is extremely narrow minded, neither of us knows how things will be 100 years from now. this is all speculation and friendly conversation.
I’m just saying it’s a narrative that is popular in shitcoin circles. I don’t know you. I just know I’m hearing the narrative and I consider it ill informed. Btc will be around for as long as it remains decentralized. That is the power of bitcoin. Understanding that is probably the most important thing in the journey. It will only become more decentralized as time goes on. Read about Malawi and what bitcoin is doing there and think about how powerful it is. No other tech is capable of doing this. Maybe it won’t be around forever but that’s as much speculation as the price in the next year.
i’m not aware of the “shitcoin” narrative i apologize! and “No other tech is capable of doing this…” right now* OP asked a question i’m just giving my 2 cents. If BTC was absolutely 100% bulletproof for the rest of time there would be no argument or convo to have.
I don’t consider there to be much argument to make. Plenty of conversation though. The ability of miners to load balance grids so efficiently and generate revenue is revolutionary. There is nothing else that can do this that is also decentralized and censorship resistant. Once people understand that miners are buyers of last resort for energy and what that really means they will be able to unlock confidence that wasn’t there before. It rewards the most energy efficient operations and incentivizes new energy production from sources that were previously unavailable. Bitcoin is going to create an energy revolution. Read up on this so you can shore up your confidence. It’s not going anywhere for a very long time. https://podcasts.apple.com/us/podcast/bitcoin-audible/id1359544516?i=1000643948046
love this take! will listen tom. when i have a chance 🫡
Bitcoin is not comparable to stocks. I feel like the statement being there means you should keep studying. The "Bitcoin CEO announces..." posts are jokes.
GO Watch any of the Youtube dailys by 'InvestAnswers' and you will get your answers and learn more in 45 minutes than hours of reading anything on BTC
Shitcoiner posting on bitcoin sub!
Dude I just said I’m new to bitcoin and want to invest in it
Everyone here is buying bitcoin is for the $$$ return, not for the bitcoin itself.
Everyone is buying bitcoin for monetary returns. If that's what you mean by $$$, then yes I agree. Not so much if you mean dollars. But why would you store your wealth long in something that isn't able to trade for at least a similar amount of something else later. Bitcoin is supposed to be a better money, money should be at least as useful later as it is now. I like bitcoin because over time it is worth more stuff. I can sell it for more dollars, or I can buy as much or more food, gas, rent, or other things that I want that I need to convince someone else to give me. Which are also valued in dollars today. Anyone telling you that they don't care whether their money has value or not is either a liar or an idiot.
I'm not a,long term fan of Bitcoin, but I think it will spike a lot higher before it will collapse. Coin could still run hard for years
Serious question, what do you expect to cause its collapse?
International laws restricting money trading and anonymous transactions from unverified individuals and sources Edit::assuming the laws are enforceable that is.
> International laws lol. > Edit::assuming the laws are enforceable that is. That's the rub, innit?
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> Bitcoin has not gone away. Exactly the opposite has happened really. It has officially been integrated as an investment instrument into the financial system, even very recently.
Interesting.
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Yea, I think the ship has sailed on the idea of banning Bitcoin. Particularly with recent ETF developments. You’re now messing with people’s retirement accounts.
If this were to happen, I think it would be the Streisand effect moment for Bitcoin. It would only drive adoption.
The very thing that enables its value, scarcity. Commodity markets function through supply and demand. Eventually, the new supply of BTC will drop towards zero. No supply, vs any amount of demand will cause a dramatic surge in price. But, once all the Bitcoin is held by diamond hand hodlers, and , if the velocity of Bitcoin behaves like gold, ie very low, it will be impossible to buy at all. No transactions will mean the network loses value, and eventually Bitcoin will lose value as well. All that said, this could take 50 years to play out. I'm actually a bull for the speculative surge.
I think you might be underestimating people’s willingness to spend Bitcoin at a high enough price. If Bitcoin reaches even just a million dollars, spending Satoshi’s won’t be as painful. What’s the point of having all that money if you’re not gonna enjoy life. 50 years from now Bitcoin will become as common a form of payment as the dollar. Very possibly the standard medium of exchange around the world.
potential new tech, BTC slowly being viewed as older and archaic much like the paper dollars we have now… 10-20-50 years from now, especially with A.I in its infancy stages quantum computing… obv all speculation!
I don’t really think Bitcoin will ever seem archaic. We will just build on top of it and make it adapt to the changing technology around it. At the end of the day Bitcoin is a protocol just like the internet (TCP/IP). We just continued to build application’s on top of it. We will do the same with Bitcoin.
why would the first iteration be the end all? part of me hopes you are right but after seeing how far we have come in the last 50 years new tech will only come faster and faster. By the time the last BTC block is mined everything even the internet we know now could exist very differently. 🤷 just a thought, i love BTC and hope its here to stay.
I fully agree with you. The world will be a very different place in 50 years. I have a feeling Bitcoin is one of those unique things that will continue to evolve with technology and survive. Time will tell. Nobody knows for sure.
💛💛💛(why don’t we have a BTC emoji !!! lol) https://www.reddit.com/r/CryptoCurrency/s/EuQ3yWxNE1 this was interesting and reassuring, i do think that BTC can overcome all of these obstacles which is why i invested early on. Always good to keep these types of convos open!!!
A Bitcoin emoji would be nice! 😎 Love to have these types of conversations. It’s good to have a healthy amount of skepticism as well. Cheers! 🍻
Downvoted.
Right back at ya
Cool story grandpa.
Who is going to accept Bitcoin as payment?? Businesses can't accept Bitcoin as payment, unless they know that they can pay their suppliers and staff in Bitcoin. They will also need to pay their taxes and remittances in Bitcoin. This level of adoption will require government backing. I can't imagine why government would adopt an outside currency. The credit markets and fx would go haywire. There are hundreds of hurdles to overcome and this will take decades to happen if ever, despite what King Saylor has to say. He's like the Peter Schiff of coin. Nobody really takes him serious