Hi everyone was wondering what are your thoughts on bitcoin and the crypto market in general I'm sure there are a lot here that know a thing or two. Leave your thoughts below Personally i believe blockchain is the future and i myself have my money in bitcoin but it is still viewed as buy low sell high kind of thing rather than a product or a store of value but it is coming soon as retail investors and big companies are scooping them up
good: >the currency is decentralized and not controlled by a central bank. governments can’t really control it, and they can’t do any objective overstepping, like restricting money exchange >there’s a fixed money supply, so it’s immune to a specific type of inflation (for example) the US dollar experiences. Our federal reserve printers keep making the brrrrrrrr sound, but we don’t have to worry about bitcoin losing purchasing power specifically because of too much circulating money bad: >the guarantee of unrestricted money exchange means that it’s used by a lot of criminals. The same thing happens with cash money but I’m making this point because treasury secretary nominee Janet Yellen says she wants to curtail it since it’s used “mainly for illegal financing” (i personally disagree with the overall sentiment but i’m trying to present 2 opposing arguments) https://markets.businessinsider.com...d-terrorism-concerns-yellen-2021-1-1029985692 > Inflation isn’t limited to just being monetary inflation. If people think bitcoin is worth less, its value sways. Among other things, this causes bitcoin to be fairly volatile. To respond to your comment above, people will probably continue to see it as a buy low sell high item because of that volatility. Here’s an article i was reading a while back on this: https://www.investopedia.com/articles/investing/052014/why-bitcoins-value-so-volatile.asp
I feel bitcoin is volatile as it is an 24 hour Market, has only been here for 11/12 years while the stock market is around for 220+ Years and There are still not any laws protecting the average investor. All we need are retail investors kicking in, ETFs being made, jobs paid in bitcoin, 401ks and some youtube videos. Volatility is what we get for life changing gains.
you sound like you have a pretty positive view of it. I do too, but what flaws of it do you see in the present day? like security breaches, its high profile uses in illegal transactions, the fact that it's considered an asset for tax purposes by the us government, etc.
The biggest is its complexity. Trying to make someone understand bitcoin is hard and most people won't invest longterm unless they understand it they might for the short run but not the long run + all the reasons you stated in this reply and one above are threats to bitcoin Ethereum is much better than bitcoin from a tech point of view but bitcoin is king and will stay king for a long time and i have no problem using it and profiting from it.
