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][quote=Anonymous][quote=Anonymous][quote=Anonymous]I’m actually glad to see so many against bitcoin. This forum is probably reflective of the sentiment of a lot of “DC urban moms and dads” who haven’t caught on that Bitcoin is the part of the future of finance. You’re a good sample set of a subsection of America’s public. Your hesitancy shows we have a way to go. Prices have not yet begun to reach their zenith. I’m going to keep buying bitcoin. Even through the impending crash or pullback. Thanks, all.[/quote]

OP here - yes, the replies here suggest how early we are. [b]Financially sophisticated people still have virtually no understanding of it[/b]. Any rational long term investor should have at least some allocation. Risky sure but Upside potential too immense [/quote]

My husband manages a hedge fund and we own zero bit coin. But I'm sure you are much more financially sophisticated than him. He has never thought of crowd sourcing financial advice from DCUM, so that's obviously shows how little he knows about the stock market and the economy.[/quote]

Don't waste your time arguing with crypto clowns. It's like talking to someone who watches Fox News. You quickly see a trend, and the trend is zero substance.[/quote]

Why the snottiness? Bitcoin is now worth $2 trillion. Anyone who has invested in it before a few weeks ago has either made good money or tremendous money. You would think it might make sense to do more listening and less lecturing. An asset that has grown from zero to $2 trillion in 15 years with millions of owners globally - pretty dumb to just dismiss it as nonsense no?[/quote]

It is precisely why I am apprehensive about it.  What exactly made it go from 0 to 2 trillion?  What was it other than hype and mutual decision of some people that it represents monetary value?  All that is needed is for the token to be mutually agreed on as holding "value" and then those holding or "mining" it would become richer and richer as bottom feeders are feeling FOMO (which is like MLM scheme).  It's a weird asset class if you think of it.  It was conceived as "currency" and touted as digital gold.  But it behaves as a volatile stock.

What is its future? If it becomes currency then there needs to be liquidity, holding it and not having enough sales volume will hamper it from becoming currency.  Another token will be needed to use as "money" backed up by Bitcoin, just like USD was once backed up by Gold. If it continues being a speculative asset at some point it will reach the limit of its growth and its growth is propelled by nothing but belief that it's new "digital" Gold. 
[/quote]

It’s a final form of money just like any other - like the dollar or gold. It has the advantage of being continuously liquid and supply constrained and ultimately beyond the reach of any single government or actor - it’s an amazing technological innovation- you don’t grow to 2 trillion over 16 years based on pure speculation- as you said there can be other digital tokens- but this is the winner - the digital monetary network everyone uses that works and now has massive liquidity and depth - the question is does it now grow to 20 trillion? [/quote]

It's not that liquid.  There's going to be a need for the extra token to be [b]tied to BTC (backed up by it)[/b] that would be transactable. This token cannot be limited in the same way as BTC, and likely will become a new FIAT.. [/quote]

Assuming your premise is true (i.e., that there will be a need for an extra token to be tied to bitcoin) to better facilitate transactions, such a token would be very different from fiat. Fiat can be debased--printed out of thin air--and is tied to nothing. A token that is "tied to BTC" by definition cannot be debased like fiat.[/quote]

Technologies including other tokens that layer upon bitcoin and make it more transactable do not undermine Bitcoin but make it more valuable. Bitcoin is not designed for small everyday purchases.[/quote]

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