Wow! That’s a long and elaborate response. Shame you didn’t take the time to learn a little bit about bitcoin.
- Timing
Have a look at the chart from the beginning, 12 years ago, till now. Pick any point to enter the market and an exit point 3 years later. Tell me if it’s possible to make a loss this way.
I’m going to have a wild guess here, you are not wealthy. Wealthy people find good assets, buy them and never sell. When they need cash they borrow against it. That’s how you live while HODLing.
2. Supply and demand
Infinite supply comes from Fiat money. The dollar is infinite, just recently the Fed printed another 8 Trillion and more will come. If that’s not infinite, nothing is.
Who is buying Bitcoin? Ray Dalio, Microstrategy, Square, Paypal, Warren Buffet (indirectly), Tesla, sovereign countries, hedge funds, pension funds, wall street. Do you think they are making a mistake? Or maybe they are seeing something you don’t.
3. Scarcity
Bitcoin is not only scarce, it’s valuable. Same as gold but better.
4. Blockchain
You can start mining today. You can start a node to help secure the network. And so could anybody in the planet with a computer. That is decentralized. Very few things are more decentralized than Bitcoin.
5. Network effect
Bitcoin has thousands of miners and thousands of nodes. The protocol is inmutable and hack proof. No other coin can compete with that. It’ll be like running another internet parallel to the real one. It’s just not feasible.
6. FOMO
Fomo is something to be avoided, for sure. But instead of Fomo, one should devote 100 hours to learn the technology and then make a decision. You don’t suffer from Fomo obviously, instead you are a victim of FUD. Don’t believe anything bankers, the media or the FED says, do your own research.
7. Inflation
40% of the money in circulation was printed in the last 12 months. If that’s doesn’t lead to inflation, nothing will. You know another country which enjoys printing money? Venezuela.
Conclusion
We are in deep shit. Nothing like this has happen before. People are looking for safe havens to protect their money. Gold, property and stocks could help to a certain extend but the one asset everyone should own is Bitcoin because it’s the only thing that will be left standing when the whole system collapses.
Do yourself a favor and buy yourself your 0.1 BTC. You can thank me later.
