41–50 of 131 posts
if I invest in Bitcoin today, am I still an early adopter?
Just don't consider it an investment, and don't put anything into it that you'll miss. Investments are tied to real world value, returns and having a say, bitcoins have no real world application or substance outside of financial crime.
if I invest in Bitcoin today, am I still an early adopter?
I think invest is the wrong term. Investments have some kind of builtin return like interest or dividends. You're buying bitcoin in the same way you buy gold or a lottery ticket. Maybe you have some solid reasoning on why price will go up but you aren't getting any returns like in an investment.
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I think that it will go to like 20k in the next 4 years but there are coins that will grow much more. Bitcoin is the conservative investment.
> I think that it will go to like 20k in the next 4 years Why like 20k (as opposed to like 100k or like 1k)?
You just have to do a calculation involving the number of people on the planet to figure out when the supply of new suckers runs dry and the price crashes.
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Nope. Bitcoin's network is not scaling well.
I think it would be a mistake to assume performance cannot improve.
LN, for example, is adding degrees of centralization to achieve better scaling. Human systems have a tendency towards centralization and consolidation of power/authority as well, as we see in various ways already with Bitcoin (China, Ver, Core).
There's overwhelming evidence to believe that the future of Bitcoin is much more centralized, at which point it starts to resemble the systems we already have but with horrifying disadvantages: your entire transaction history is public to everyone, your identity can be linked to your wallet through exchanges, etc.
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I think that it will go to like 20k in the next 4 years but there are coins that will grow much more. Bitcoin is the conservative investment.
> Bitcoin is the conservative investment. Now this is what I come to HN in the morning for.
Options and derivatives are risky. A merely volatile asset that never expires is pretty conservative in comparison.
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I think invest is the wrong term. Investments have some kind of builtin return like interest or dividends. You're buying bitcoin in the same way you buy gold or a lottery ticket. Maybe you have some solid reasoning on why price will go up but you aren't getting any returns like in an investment.
Boiled down to the base principles it's the same... money goes in, more money might come out, or you might get less money out. The only difference is predictability and odds.
Real investments have a return derived from capital. A house, for example, can be rented out for money. Or a business can earn profit and distribute it to its shareholders. You can try to buy and sell houses like people did during the RE bubble for profit, or try to buy and sell stocks like a day trader, but these are still fundamentally different from an "asset" which has no means by which to generate a return on its own.
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> Bitcoin is the conservative investment. Now this is what I come to HN in the morning for.
I talk to these people all the time. Them: "I KMOW stock XXX is going to be at price YYY in time Z." Me: "How much have you invested in stock XXX?" Them: "Oh nothing yet".
* Call it a fad * Price goes down * Buy * Say it's not a fad * Price goes up * Sell * ... * Profit?
I don't think you need the "...", usually that indicates a mysterious step will never actually materialize. But the Profit cycle is fully complete here.
> "The concept of anonymous currency is a very interesting concept -- interesting for the privacy protections it gives people, interesting because what it says to the central banking system about controlling that." I don't think he means bitcoin in particular, it could be any crypto currency. Bitcoin is still a ponzi scheme in bubble phase.
hey that's not fair... it's a pyramid scheme, not a ponzi