There not even remotely similar. Apple is a company that produces goods that people across the planet purchase, and has massive r&d to keep making new goods.
Central banks are going to issue their own digital currency across the world. I got some crypto but I wouldn't doubt if Satoshi Nakomoto was just some government entity testing out the waters. When are his coins gonna move?
You're right, they are not similar. But you're wrong for hating on bitcoin for not producing anything, thats not what its for. Its limited supply is what gives it value. The 600 in stimulus is created out of thin air, thus devaluing all the rest of the cash in circulation. That can not happen to bitcoin.
Right but most sophisticated investors are not going to considering putting anything more that 5% of their net worth in a currency and they don’t consider it a true investment.
There not even remotely similar. Apple is a company that produces goods that people across the planet purchase, and has massive r&d to keep making new goods.
Bitcoin produces nothing.
Bitcoin (more accurately: blockchain) produces economic freedom, and non-reliance on federal reserves.
Bitcoin is in the process of being subverted.
https://youtu.be/ZwGQBR2NOeE
Central banks are going to issue their own digital currency across the world. I got some crypto but I wouldn't doubt if Satoshi Nakomoto was just some government entity testing out the waters. When are his coins gonna move?
Dunno, he might even be dead
Who is Hal Finney
Interesting response to what it produces. I like it.
No it doesn't. It produces zero and has more weaknesses than any physical currency (fiat or otherwise).
You're right, they are not similar. But you're wrong for hating on bitcoin for not producing anything, thats not what its for. Its limited supply is what gives it value. The 600 in stimulus is created out of thin air, thus devaluing all the rest of the cash in circulation. That can not happen to bitcoin.
I wasn’t hating on it; I was commenting on how it isn’t really an investment as defined by the traditional parameters.
Although I don’t know much about it (I probably know more than the average person), I agree that it’s value is in what you have stated.
It doesn’t have to. It’s a store of value and a currency. Similar to gold or silver.
Right but most sophisticated investors are not going to considering putting anything more that 5% of their net worth in a currency and they don’t consider it a true investment.
Good for them. They’ll just have to deal with that cognitive dissonance once it climbs above 100k, 200k, etc.
It’s gonna be reeeal salty and it’ll be entertaining to watch.