CoinDesk finally comes clean

[johnarb]

It's the reason I don't have a digital girlfriend.

Neither do I nor most people

I may not be able to touch but I can see how they make their money. They report earnings and revenues and other useless fundamentals under GAAP. I can listen to the talking heads to get the latest reason why the price is moving.

FB does not pay a dividend, so buying their stock is only a bet that the "price tracker" listed on the stock market goes up (or down if shorting), per our previous convo

Bitcoin surpasses PayPal in USD transaction volume. Bitcoin is a decentralized network and there are no employees or CEO/CFO and there are no buildings or company cars

The only ones that get paid in bitcoins are the Bitcoin miners for securing the network. The miners earn ~$1.2B/month when btc is $48K

Every one is exactly that. You hear about bitcoin everywhere. Better get in now before it goes up!!. It will have to get to 2 million on it's way to 10 million!! Classic phase 2 mark-up.

Don't worry about me being pressured. I have triumphed over my FOMO.

I do believe Bitcoin btc will keep going up and the value of the network is based on the size. I think $500K within 5 years and $1M within 10 years is possible

In examining your comments, you make a very good point and I now agree with you that hodlers are encouraging people to buy and become hodlers like us

The growth of the network increases the value of the network. You can google "Metcalfe's law and bitcoin"

It's about 250M cryptos worldwide users (about half hodl bitcoins) and the goal is to get to 1B within the next 5 years

FB, Twitter, Snapchat, TikTok and all networks have more value when they have more users

Imagine if you start a network for owners of dead dogs and you only have 1,000 users that are using it. It would not have much value, if anything at all

It's the digital part that concerns me. I've had files corrupted. Yeah I know it's impossible, well until it happens and then it will be a black swan event.

Taking full custody of bitcoins and cryptos via local wallets is a big responsibility. If your files get corrupted, or lost or stolen, you will lose your bitcoins and cryptos forever

If you are unable to handle the responsibility, do not invest in cryptos and withdraw them to local wallets

Ok, I think we've established that bitcoin and cryptos are not suitable investments for you, so I will not "push" any more

I would encourage you to continue on your education. More knowledge is always better than less knowledge