Reply to I’m 10% BTC and 90% S&P 500

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I’ll be laughing when the government seizes all Bitcoin and jails everybody that ever possessed one. You’re gonna be first, buddy-o[/quote]

That's a grotesque way to say Bitcoin as a currency has shaky future.  More rational concerns for me is competition with government issued digital currency and Bitcoin never taking off and remaining a speculative asset.  People are banking on Bitcoin becoming universal currency.  CBDC is more likely, and competition will be killed or tightly controlled. [/quote]

Why would anyone put their money in a CBDC that can be inflated away just like regular USD? No investor is going to want to hold that.

The people who criticize bitcoin for being backed by nothing ignore that almost every currency now is backed by nothing, except faith. I don't know where it's gonna go but I still hold some to get proper exposure. I'm not a huge fan of alt coins because they're very flavor of the month. Only BTC and a few others endure multiple crypto bear markets while hitting new highs with each bull.[/quote]

This is where I struggle. I don't think BTC is the right block chain technology to be the long term winner if crypto were to ever become an everyday currency. All the other crypto currencies seem to small to be a reasonable high risk investment.[/quote]

Blockchain is always going to have some hard limitations on being useful as a currency. No matter what you do it's a massively decentralized database that deals with high latency of needing to propagate transactions to millions of computers. You can only speed that up so much. It will always be slow compared to centralized payment networks.[/quote]

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