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70% of people who bought Bitcoin bought it in the past year. With these statistics, it is very likely that more people lost money through Bitcoin than gained it
by cuteboy19 5y ago
70% of people who bought Bitcoin bought it in the past year. With these statistics, it is very likely that more people lost money through Bitcoin than gained it.
Someone has to pay for all the Bitcoin mining around the world, so it's probable that Bitcoin as a whole is net negative. That is, the average investor loses money on Bitcoin.
- dadoge 5y agoWhat about anyone who fully understood its value proposition and held for a 3-4 yr timeframe? EDIT: let’s check back in in 1-3 yrs here and see if people who bought last year and held are doing :-)
- cuteboy19 5y agoI'm sure such people exist, its just that there are probably more losers than winners in this net negative game. Analogously, there are some people who have won a lot of money from casinos but the average gambler loses money because the house always wins. Miners are 'the house' for this analogy
- dadoge 5y agoI don’t buy that analogy one bit. BTC supply is growing at a rate of less than 2% now. 90% of the supply is already mined. Miners play a very small role now in getting new supply
- jazzyjackson 5y agomining rewards in the form of new supply is not the only way miners make money - they are the house because they take a cut of every transaction. admittedly I don't know the ratio, and I've always been puzzled by the end game - will fees continue to rise as the difficulty ratchets up such that the only incentive to mine is transaction fees? Anyway they can keep winning regardless of price volatility.