Quote:
Originally Posted by barry12345
Common sense basically. What is really there when you remove all the window dressing? Hype is endemic in todays society remember.
It may go up and down depending on many factors. The con was it would become mainstream and that was pretty much impossible. As has proven the case.
I seldom use money anymore in the physical sense. You of course realise any value it has is directly related to the legal money supply. It cannot self stand by itself.
It has been possibly related to a pyramid scheme. Sustainable only if a new constant volume of buying occurs. At a much higher amount than those selling.
Over time there will be more losers than people that have really gained. It may have been a form of idealisim and greed as the sales pitch. Just lacking the components of reality. Required to be valid.
I get no enjoyment of watching people get hurt. If you are still holding at a profit. Sell enough to cover your initial outlay. Or sell it all. A bird in the hand is worth something over the unknown.
Just my opinions though. I have enough issues with dealing with real things. I would feel foolish putting any money into that form of vehicle. Perhaps I am just too simple minded.
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It's pretty mainstream. It's traded in Federally regulated markets like other currencies. You can buy some products and services with it - a much bigger variety of things than you can buy directly with gold. For example you can pay your AT&T bill with it
https://about.att.com/story/2019/att_bitpay.html
Regarding the money supply, this is actually one point where bitcoin has a distinct advantage because the supply is fixed and not tied to any government or other monetary policy. USD M2 has gone from around $4.6T in 2000 to about $22T now. I'm still not willing to invest any substantial amount into it but I'm not writing it off either.