It is a decentralized and immutable network. It can not be printed willy-nilly like FIAT. There is a high chance that at some point in the distant future, it could very well become the world reserve currency. Adoption takes time. If not Bitcoin, it will be another digital asset, yet to be created.
Stripe to Enable Millions of Merchants to Get Paid in Bitcoin
- Thread starter johnarb
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It is a decentralized and immutable network. It can not be printed willy-nilly like FIAT. There is a high chance that at some point in the distant future, it could very well become the world reserve currency. Adoption takes time. If not Bitcoin, it will be another digital asset, yet to be created.
QT started already secretly, just google fred repurchase rate. 2 trillion in there already. I don't expect them to do real QT other then that.
This is why you have to separate the asset from the technology. One of the reasons I think bitcoin is "still" a bubble is that the true believers don't think they can lose. When you think you can't lose, you usually do. Common responses to bitcoin skeptics:
"You just don't get bitcoin."
"Have fun staying poor."
That type of arrogance gets punished in the markets. It's happened before, it is likely to happen again.
But hey -- I reserve the right to change my mind if and when bitcoin looks better from a technical perspective. I have no problem being long (and I have been before) bitcoin or any other crypto if there is a strong probability of it going up.
"You just don't get bitcoin."
"Have fun staying poor."
That type of arrogance gets punished in the markets. It's happened before, it is likely to happen again.
But hey -- I reserve the right to change my mind if and when bitcoin looks better from a technical perspective. I have no problem being long (and I have been before) bitcoin or any other crypto if there is a strong probability of it going up.
Well, up to now, anyone who had HODL'd wouldn't have lost. After every crash, it's always recovered and gone on to reach new ATHs.
It's therefore not surprising that there is this faith that if you just keep HODLing, one day it will reach $0.5m or $1m. And, who knows, maybe it will.
Question: What would it take to shake the faith of believers?
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I see what you see: the world is moving toward a digital reserve currency. Except I don't think it will be Bitcoin. It will likely be the digital US dollar, the digital Euro, the digital Yen, etc. Bitcoin is paving the way for a new boss, and it will be the same as the old boss.
When that happens, I think Bitcoin will still have value, maybe even a lot of value eventually because of its limited supply. Kind of like the digital equivalent of Disney dollars that are worth more than face value now that they are no longer being issued.
The problem for today's holders of Bitcoin is that it may take a long time for things to play out and get settled. Saylor may be right about the timeframe of holding Bitcoin for the grandkids.
John, seriously, you should decide if you advocate for investment or currency. All these "adoptions" are not good for holding. Why don't you just stick to the hold it forever mantra?
And if you are just saying "oh they are only using it for just a few seconds", then what is the point? They may as well just use Doge....
And if you are just saying "oh they are only using it for just a few seconds", then what is the point? They may as well just use Doge....
- When someone is able to debase Bitcoin, i.e. create 1M (or any amount) bitcoins without mining
- When someone is able to double spend bitcoin, i.e. purchase a house and send the same bitcoins to another address
- When someone is able to break the Bitcoin crypto private key encryption, i.e. take the bitcoins from a wallet address and transfer to another wallet address
What if the government owns X amount,
How many Buttcoins does Chinese Binance guy have ?