My new copypasta:
If you bought $1700 worth of gold in 2013, it'd now be valued at $1783, a 14% gain, but that failed to keep up with the rate of inflation for all that time (17.8%) so you would have actually lost money.
If you bought $1700 worth of bitcoin in 2013, you'd currently have $112,200, a 6,500% increase.
You are making a correct observation and I do not dispute that. Far from it.
But that is not what I am pointing towards. This is not about differences in valuation.
What I am pointing at is the movements within the asset-classes I mentioned in my post. They are chained up. This begs the question: How compromised is bitcoin?
For those who are avid believers and downvote-kneejerkers who are butt-hurt for even my daring to question what is going on in this day and age:
I am not discounting the value for market of a crypto/ blockchain system. I am hoping to evoke your thinking ability and interest to look deeper into the ecosystem of finance and ask yourself: why does this happen? What is the circuitry? How is liquidity moving through the asset classes? And when I say ecosystem, you have to look at the whole damn picture: commerce, trade, fiscal, banking, regulatory.
Checked the boards today ... Interesting how EUR/USD is now up to 1.165 and Gold and silver in both currencies were moving in almost the % up.
And bitcoin lost 2K.
This begs the question, does it not?
My new copypasta: If you bought $1700 worth of gold in 2013, it'd now be valued at $1783, a 14% gain, but that failed to keep up with the rate of inflation for all that time (17.8%) so you would have actually lost money.
If you bought $1700 worth of bitcoin in 2013, you'd currently have $112,200, a 6,500% increase.
What's your question?
You are making a correct observation and I do not dispute that. Far from it.
But that is not what I am pointing towards. This is not about differences in valuation.
What I am pointing at is the movements within the asset-classes I mentioned in my post. They are chained up. This begs the question: How compromised is bitcoin?
For those who are avid believers and downvote-kneejerkers who are butt-hurt for even my daring to question what is going on in this day and age:
I am not discounting the value for market of a crypto/ blockchain system. I am hoping to evoke your thinking ability and interest to look deeper into the ecosystem of finance and ask yourself: why does this happen? What is the circuitry? How is liquidity moving through the asset classes? And when I say ecosystem, you have to look at the whole damn picture: commerce, trade, fiscal, banking, regulatory.