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I'll keep taking bitcoin, gold, land, housing. You can have my worthless paper federal reserve notes - they're all forged. Unlimited supply cap, the issuing ent
by anonym29 1y ago
I'll keep taking bitcoin, gold, land, housing. You can have my worthless paper federal reserve notes - they're all forged. Unlimited supply cap, the issuing entity literally just keeps printing trillions of them. It's monopoly money. I have no interest in that toilet paper with pictures of dead presidents the federal reserve keeps printing for 100,000% markup. Just because everyone around me is jumping off a cliff with a parachute made of federal reserve notes doesn't mean I'm obligated to do the same.
- lern_too_spel 1y agoYou're mixing up completely different assets. Gold and land are scarce resources that have value that goes up when more people need it. The buildings on top of the land depreciate. Bitcoin is just a beanie baby that is easier to steal without recourse that you can't even sell for the materials used to produce it. The thing with a speculative bubble is that as soon as the value stops going up, there is no reason anyone would want to buy it instead of shares in a company or land producing valuable goods and services, so people will sell it off. There is no floor on Bitcoin, so it will go to 0 when that happens. You don't want to be the last fool holding.
- anonym29 1y agoYou're entitled to believe that, and I'm entitled to keep buying bitcoin. My strategy is working better for me than most other human beings' strategy is working for them. They spend several decades running in a hamster wheel to make another man wealthy because of their strategy. I'm retired before 30 because of mine. I can sleep easily with the consequences of my interaction with Bitcoin. Can you?