Reply to If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?

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Reply to "If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I honestly don’t understand this stuff. Like, what’s the endgame - Bitcoin gets to $1 million? $10 million? And then what? Can you do anything with it other than trade it like digital Pokémon cards?

Is it ever going to be used for transactions? If so, why isn’t it already being used for this purpose?

Is it going to replace the US dollar? Why would the government ever allow that, and give up its enormous power, instead of making it illegal?

How is it a store of value? A house is a store value because somebody can live in it.  Stocks are a store of value because you get a stream of earnings. But what is being stored with Bitcoin?  OK, there is a “limited supply,” but so what? If Bitcoin went away tomorrow, what value would be lost except for the money that people have spent buying it??[/quote]
All the answers are online. You just haven't bothered to do some research. What value does gold have? We can't eat it. We can't use little peaces to buy anything every day. What value does fiat currency have if every country can keep printing it. Can't keep printing Bitcoin. More gold can be found and it happens all the time as price goes up. 
Bitcoin is new technology, so no wonder people are scared. The idea is not new, the technology had to catch up. [/quote]

I’m the PP you responded to. Note that I did not mention gold because I agree that gold doesn’t have much value either.  I mentioned real estate and stocks as assets that do have value.

Regarding fiat currency (the dollar), it has value because it is backed by the world’s #1 superpower and is the reserve currency used in transactions throughout the world.  Of course, it’s not good if it is endlessly printed, but I can’t make a leap from that to accepting that Bitcoin is the solution or that I should part with $100,000 of my hard-earned money to buy one Bitcoin.[/quote]
Real estate doesn't have much value. Watch Saylor videos. He explains if very well.[/quote]

How does real estate have little value? People need a place to live. They don't need Bitcoin.

People need to eat. Land is the way to grow food and raise animals for food.

What basic human need does Bitcoin solve?[/quote]

Saylor didn’t really say RE had no value. The PP is taking his words out of context. He said Bitcoin is paying the same role as RE and gold, becoming the new world reserve currency. [/quote]

Ooof, ok then.  I was getting rather stressed out as most of my investment is RE, and I was considering getting BTC to make up 2% of our total NW, but buying at the height now feels like jumping into a bandwagon that is fueled by the incoming administration fluffing up crypto..  When something is getting so hyped up I am generally cautious.  [/quote]

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