VladKinder
Well-known member
Digital Oil/The Prisoner's Dilemma.
What if bitcoin replaces bullion? (I’m not saying your wrong, just playing devils advocate)Not the way I see it no. Because investing in a company is, well investing in a company. As in I have shares in solar farms and renewable energy companies. Because they have an intrinsic worth. Bitcoin doesn't unless converted into a currency, in which case just use the currency.
Again, I see it as different: Bullion has an intrinsic value. Golds value is to do with it's scarcity but it's also the one of the best reflectors of heat we know of (for one thing) so has a utility. Can you not see what I'm getting at. Other things people invest in have value and purpose other than of themselves. Bitcoin has no utility as suchWhat if bitcoin replaces bullion? (I’m not saying your wrong, just playing devils advocate)
Great post - just to add a couple of my suggestions as a long term holder.I'm going to post a few videos for people who are interested. Those who are not can ignore my ramblings.
I don't want to get into any debates or mudslinging.
But just are few things first.
1. You don't have to buy a full Bitcoin. You can have a tenner's worth if you want.
2. 13 out of the last 15 scientific reports have come to the conclusion that Bitcoin is a net positive for the environment as the system is designed for miners to seek out the cheapest form of energy, such as waste energy:
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3. Bitcoin is not for criminals. Sure they can use it, as criminals use cash, but Bitcoin is far more traceable. Bitcoin is agnostic. Anyone can use it. Just like the Internet.
4. 1% of people own 90% of the supply. Untrue. Bitcoin is far more distributed than the World's cash system.
5. Is it too late to buy Bitcoin? No. Bitcoin is a much better designed system than our current system that uses paper money. It will always be stronger than the Pound or Dollar,
but it does attract speculators still which create boom and bust cycles. Make sure you are not FOMOing in your life savings at the worst time.
6. Safest way to invest? Put whatever you can afford say a tenner a week into Bitcoin via somewhere like Coinbase, Kraken or my favourite the Strike App (which has zero fees)
This is called Dollar Cost Average. You are putting a small fixed amount in at regular intervals regardless of if the price is going up or down. This smooths out the volatility.
7. If you are just interested in buying Bitcoin just to make some quick beermoney then don't bother. Bitcoin is a better long term way to store wealth.
You have to get out of the mindset that it's just a way to make more fiat (paper) money. It's OK to take profit, or to convert to Pounds to pay bills but never ever sell all your Bitcoin just to go to cash.
There are a few legal firms now gathering clients to basically make the badly advised 'spit on that thang' girl turn back into an irrelevant nobody.I got a bit carried away reading this thread and have invested my life savings in the Hawk Tuah meme coin.
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The 'Hawk Tuah' memecoin launch went just as poorly as you'd expect
Haliey Welch's latest side-hustle dropped by 95% after an abysmal effortqz.com
Again, I see it as different: Bullion has an intrinsic value. Golds value is to do with it's scarcity but it's also the one of the best reflectors of heat we know of (for one thing) so has a utility. Can you not see what I'm getting at. Other things people invest in have value and purpose other than of themselves. Bitcoin has no utility as such