Selling Bitcoin?
- Thread starter dealmaker
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Nooooooooooooo you don't say....I have been saying this for years....why would you want to own something extremely volatile or even take a form of payment in a fairytale coin that could be 38989 one day and 32838 the next
You know that you being early on the call makes yourself a worse trader than someone who calls later, right?
What he doesn't understand is that the higher the price goes, the more institutions will come into the space, ultimately lowering the volatility.
Just imagine it becomes a reserve currency at 1 billion dollars- and everyone is using that as the new "Gold standard"
Just imagine it becomes a reserve currency at 1 billion dollars- and everyone is using that as the new "Gold standard"
In my opinion, when volatility drastically drops, everyone gets out, and price drops. Nobody needs to hold BTC once they think its not going higher.
If price stayed the same, it wouldn't protect against inflation because you always need it to go higher to buffer the losing value of the dollar. If the value of BTC goes up at a standard 2-3% per year, it would barely entice enough people. If it goes up 10% per year, then heck, that might be a good return, and more people pile into it. But then the 10% yearly increase would explode to a much higher number and we are back to high volatility.
So in my opinion, BTC will never be a store of value. Its a great tool to trade and gamble, but it will never achieve "store of value" status. It only attracts attention when its climbing fast, and when it starts to go flat, it will likely induce selling because lots of players aren't in it as a store of value, they are in it to make a buck.
I agree with the first part, but why would he discredit the entire tweet with the second part? Why throw some unsubstantiated insult about COVID deniers into this? Even an insult about climate change deniers would have been more relevant considering that Bitcoin consumes more energy than the country of Argentina.
because doomsday antigov preppers are suddenly interested in this "fake funny money" they once disparaged