I had 100 dollars of bitcoin ready to buy at 3ish dollars each and hesitated because I wanted to do more research on the security of the wallet system.
Next day it went to 80something.
Dangit!
Fair enough, but the fact that it is virtual is not an issue in my opinion. Everything else in the world has been digitized, and the digitization of money is inevitable too. The issue is centralization vs decentralization.
Unlike the central bank system, Bitcoin is decentralized, with no single point of control or failure, and an absolutely limited supply. And it is virtually impossible to change these rules due to the hashpower behind the network (twice the yearly energy consumption of the US Navy and rising). This makes it the system best suited to compete with the CBDC.
Gold and silver are good for protecting existing wealth imo (as long as you make sure to lose them in a tragic boating accident), but they cannot provide an effective alternative to the CBDC as a unit of exchange, whereas Bitcoin can.
I had 100 dollars of bitcoin ready to buy at 3ish dollars each and hesitated because I wanted to do more research on the security of the wallet system. Next day it went to 80something. Dangit!
I remember those heady days, but don't trust virtual anything, so I have stocked up on silver instead.
Fair enough, but the fact that it is virtual is not an issue in my opinion. Everything else in the world has been digitized, and the digitization of money is inevitable too. The issue is centralization vs decentralization.
Unlike the central bank system, Bitcoin is decentralized, with no single point of control or failure, and an absolutely limited supply. And it is virtually impossible to change these rules due to the hashpower behind the network (twice the yearly energy consumption of the US Navy and rising). This makes it the system best suited to compete with the CBDC.
Gold and silver are good for protecting existing wealth imo (as long as you make sure to lose them in a tragic boating accident), but they cannot provide an effective alternative to the CBDC as a unit of exchange, whereas Bitcoin can.
serious question, how are you going to use the gold and silver at the grocery store? i don't understand any of this tbh.
I have been rowing a LOT at the gym looking for lost guns and silver.. so far, no luck... 😁
I wish I could have bought in that early. I unfortunately made the mistake of being too young at the time to have a bank account X)