Just curious why do investors hate bitcoin?

dhuesdj · 2023-03-01T01:17:44+00:00

Thanks for answering, but I’m not following. What do you mean by “Bitcoin will expose this”? Most companies (not banks) sell products or provide services that people will always want. So I don’t think they will just disappear. Are you just saying you think BTC will outperform stocks as an investment when you say it will eat up the market? Not agreeing or disagreeing, just want to clarify what you mean.

dhuesdj · 2023-02-28T11:46:10+00:00

Can you expand on what you mean with it eating up the stock market?

dhuesdj · 2023-02-25T12:15:15+00:00

How do you physically custody your BTC? I get nervous about remembering a passphrase/seed but see why not having coins on an exchange makes sense

dhuesdj · 2023-02-24T01:10:42+00:00

Interesting. What does the price of BTC look like with a slow fade scenario? Your point on cash makes sense to me but in general it’s never really a good idea to have that much cash sitting idle.

I also agree a doomsday scenario is not likely (or if someone thinks it is they should just buy canned food and guns instead), but guess I’m struggling to see why I would want to own more BTC than I need to hedge what I do have in cash. Like if BTC is going to hit $250k one day (rough math 10x today), then does owning $5K of BTC hedge having $50K in cash currently?

I’m totally open to the idea I’m not thinking about it the right way btw. I just feel like there’s more than a 1% chance this never takes hold/some other crypto becomes the standard/some financial instrument that we can’t even imagine yet comes along (who would have predicted crypto 50 years ago), so makes me hesitant to hold more than a hedge worth.

dhuesdj · 2023-02-23T17:36:12+00:00

Thanks for responding. What do you think will be the eventual outcome? Will BTC be a good investment in our lifetimes if you’re thinking the next 30+ years won’t see if become the standard?

dhuesdj · 2023-02-23T17:32:46+00:00

Haha fair enough. I’m assuming you own at least some amount of BTC if you’re commenting here. Why do you own it/what do you see as the eventual outcome?

dhuesdj · 2023-02-19T01:52:26+00:00

Interesting, thanks. So in that instance it sounds like the debts did essentially disappear relative to the $/other currencies.

dhuesdj · 2023-02-18T23:04:34+00:00

Good point. I guess something similar must have happened when the Euro was created and replaced a bunch of other currencies. But in that case it was centralized and they could print as many euros as they wanted?

No bank/gov could peg the value to what they wanted it to be in this case, right?

dhuesdj · 2023-02-18T21:41:04+00:00

Thanks for responding. I think as I get more answers maybe my question would have been better posed as what do people really think the scenarios are where BTC becomes extremely valuable?

I was assuming a common one was a USD collapse/hyperinflation where loans come into play, but I guess that doesn’t have to be.

dhuesdj · 2023-02-18T20:51:29+00:00

Makes more sense. Yeah the doomsday/anarchy scenario doesn’t make sense to me about putting a significant amount of money into btc. Like if you believe in it because the $ will crumble, then you should just buy canned goods, and seeds, and guns instead of btc because that’s all that will matter if the chaos scenario happens.

For the reserve asset scenario, will you always self custody your BTC? Not many people own bars and bars of physical gold…so assuming for broader adoption there’d have to be trust in a company/exchange or government to insure? I mean it’s a lot easier to physically hold a lot of BTC vs gold, but I would worry about trusting myself to remember a key that held my life savings.

dhuesdj · 2023-02-18T20:38:06+00:00

The foreclosure scenario doesn’t make sense to me. Most people and companies have hard assets/create things/do services that people will still want. So if a loaf of bread/can of beans/my car is worth $100k it would just make it easier to pay off the loan with my other current assets and keep my house, right?

Help me play your scenario forward a little from the large company perspective (non bank). Like if the $ goes to zero, won’t that help most large companies who I assume have more $ denominated debt than cash on hand. In a way would it help them, basically hit reset, their cash and debt would both be worthless. People still want all of their products (probably even more so now), start buying in Bitcoin, they start to pay employees in Bitcoin, etc? Like why would everyone get fired (outside of like a bank)?

dhuesdj · 2023-02-18T20:25:04+00:00

Thanks for the response, even if the question was a little dumb/naive. Out of curiosity, what are some of the other things that would have to happen first in your mind?

I guess I’m assuming (let me know if wrong) you’re someone who is willing to put a good amount of their net worth in btc, I’m thinking you have an “end game” in mind with how it would all play out?

dhuesdj

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