It's not, nor will it ever be.I own no bitcoin.
I think ammo is the new currency.
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It's not, nor will it ever be.I own no bitcoin.
I think ammo is the new currency.
this thing happens in cycles
bit rose
eth rose
alts supposed to follow, they kinda rallied, we are now in bear market possibly (im not sure but im also not buying, im getting out for the most part)
and just because alot of folks do something dont make it a good idea. what is their reason for it being a hedge? for me it doesnt meet much of the tests; it holds no intrinsic value, its not backed by a long standing history of valuation (far too volatile), and aside from peer to peer transfers its only value is speculative really. etheruem and other coins are already superior to bitcoin for transactions and with eth2 launching its only going to get shadowed but this market is growing at an alarming rate; given how the money supply is created the crypto market honestly leaves alot of questions answered. lets face it, there is a correction coming due to the very nature of how fiat has operated these past 50 years and crypto is not immune to the fiat issues or inflation itself.
If you bought at $65K, you are dead today. You paid a big commission to buy and will pay a big price to get out.
You can't really spend it to buy a car or land or gold.
What if your $65,000 is stored in a computer in Russia with Putin in charge? You have no clue where it is.
You are simply buying a trade that big players (the big Hedge Funds) will sell faster than you can.
You are buying a hope and a prayer: It's a scam.
Cool story bro. If you don’t think crypto is a hedge against inflation or is too risky then by all means dont put any money into it. Makes no difference to me. You asked why people thought crypto can still surge and I offered my opinion.
some think bit will hit 100k but this year? maybe next bull cycleThe people that bought in at $65k are only down on time. Unless they capitulated and sold at a loss. But then that is on them for being impatient.
lol your opinion is that crypto is a hedge, ok but why? aside from "look it up yourself bro, billionaires be doing it"
the only thing bitcoin really offers as a hedge is the scarcity attached since bitcoin has a finite number of tokens that can be mined
being scarce doesnt make something an automatic hedgeYou argue that crypto is not a hedge and immediately give an example of why it is?
I agree! Glad we agree. It’s scarce. It can’t just be printed off like Monopoly money. It’s scarce and people have decided it has value....same way as gold.
That and it’s value is decentralized and unregulated by our government. Therefore, crypto is not subject to effects caused by our government’s actions and policies the same way the dollar is.
On a side note... you converted what I said earlier to Ebonics. I guess that’s why it went over your head when I hinted about not wanting to spoon feed or argue with you. I didn’t say in your native tongue.
So...just so we be clear. I be dones talking to you bouts it and don’t be caring if you agrees.
some think bit will hit 100k but this year? maybe next bull cycle
good luck dude; i got in back in october and rode what i thought was the bull runI am one of those people. If it doesn't before the year is over then at least by April of next year. That's just my opinion formed by all the chart analyst that I follow. It's still early and I'm still bullish.