Why is bitcoin even worth anything?
How does one purchase bitcoin? Is there an ETF route it?
As I understand it, if I give someone 453K, Do I get some kind of fancy coin thing in the mail or armored truck, or a piece of paper that says, I own "a" or "some" bitcoin ?
Bitcoin is to buy and hold, or HODL, and hope it goes higher. As a “currency” it has no practical use. You can buy a Walmart or Target or any of hundreds of shopping cards on Gyft. A $10 valued card costs almost $16 through Bitpay and that’s before the miner’s fee. So if you have 18 - 19 $ worth of BTC, you actually have $10 of spendable money.
Dang. If I had only purchased $10 worth when they were four for a penny.
2014: Didn’t Bitcoin crash?
2015: Didn’t Bitcoin crash?
2016: Didn’t Bitcoin crash?
2017: Didn’t Bitcoin crash?
2018: Didn’t Bitcoin crash?
2019: Didn’t Bitcoin crash?
2020: Didn’t Bitcoin crash?
The whole premise that bitcoins are valuable because there can only be a limited number and they are hard to mine is fataly flawed. Can anyone explain what happens when all 21 million bitcoins are mined?
At that point, how are they any different than any other “thing” that where each has a unique id and a set number of them? (not discussing utility value of blockchain tech) Credit cards, lottery tickets, etc...
https://www.entrepreneur.com/article/364066
LOL JPMorgan and their expert opinions for the muppets.
I don’t know why anybody would want, for CURRENCY, a coin that can double in price, or drop 50%, in the course of a few weeks or months.
You could save up for a Tesla, and one bad piece of news the day before you purchase could cut your savings by 20%.
The goal of a good currency is stability, not inflation.