The World's Biggest Wealth Manager Won't Touch Bitcoin
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Re: The World's Biggest Wealth Manager Won't Touch Bitcoin
#2> How do you know when to get out of a bitcoin investment?
That's the thing. When Bitcoin succeeds, you won't have to get out of the investment.
Re: The World's Biggest Wealth Manager Won't Touch Bitcoin
#3> How do you know when to get out of a bitcoin investment? That's the thing. When Bitcoin succeeds, you won't have to get out of the investment.
If the best case scenario is Bitcoin hits $1,000,000 per coin and never moves again, why would anyone ever put more money into it?
The only value Bitcoin has is appreciation. If it ever becomes stable it will necessarily be worthless.
Re: The World's Biggest Wealth Manager Won't Touch Bitcoin
#4> How do you know when to get out of a bitcoin investment? That's the thing. When Bitcoin succeeds, you won't have to get out of the investment.
If the best case scenario is Bitcoin hits $1,000,000 per coin and never moves again, why would anyone ever put more money into it? The only value Bitcoin has is appreciation. If it ever becomes stable it will necessarily be worthless.
Presumably at 1 mil per coin it has become our defacto medium of exchange. Actual bitcoins become the new gold bars, sitting untouched in vaults and used as a reserve backing other more efficient means of crypto exchange.
Re: The World's Biggest Wealth Manager Won't Touch Bitcoin
#5> How do you know when to get out of a bitcoin investment? That's the thing. When Bitcoin succeeds, you won't have to get out of the investment.
If the best case scenario is Bitcoin hits $1,000,000 per coin and never moves again, why would anyone ever put more money into it? The only value Bitcoin has is appreciation. If it ever becomes stable it will necessarily be worthless.
this isnt true, when countries have massive instability and currency manipulation (see Zimbabwe), people can buy bitcoin as an alternative store of value.
Re: The World's Biggest Wealth Manager Won't Touch Bitcoin
#6Earlier quoted context omitted.
If the best case scenario is Bitcoin hits $1,000,000 per coin and never moves again, why would anyone ever put more money into it? The only value Bitcoin has is appreciation. If it ever becomes stable it will necessarily be worthless.
this isnt true, when countries have massive instability and currency manipulation (see Zimbabwe), people can buy bitcoin as an alternative store of value.
To some extent, even stable currencies suffer from significant manipulation by governments. This is not a tinfoil hat idea, it's generally why non-corrupt central banking helps achieve social stability.
But central banking is a large hammer, and so even in the US there are many uses of currency where Bitcoin shines. Also, over time no central bank has managed to avoid some form of corruption (this is concerning both for fiat and centralization-prone cryptocurrencies like Bitcoin).
But the factors that lead to corrupt central banks are not primarily monetary, they are social/societal, causing those banks to bend to the whims of some interests while ignoring others.
The interesting thing to observe will be how/whether Bitcoin can adapt its broader organizational structure to make it less vulnerable to these forces of "bad" centralization. Also, if trends continue, the risk-takers of today who own Bitcoin may well be the wealthy influencers of tomorrow and may not take kindly to some of the sensible changes.
There are many, many ways in which Bitcoin is far superior to the typical fiat + central bank system, though, most notably its international nature. Even if Bitcoin's ability to avoid problems is only 90% as effective as the most effective fiat systems, that is a tremendous improvement for most of the people living on Earth.
Re: The World's Biggest Wealth Manager Won't Touch Bitcoin
#7>“All it would take would be one terrorist incident in the U.S. funded by bitcoin for the U.S. regulator to much more seriously step in and take action, he said. “That’s a risk, an unquantifiable risk, bitcoin has that another currency doesn’t."
You can't make this up... or maybe I'm not understanding something. So, what's currently funding terrorist attacks?
Re: The World's Biggest Wealth Manager Won't Touch Bitcoin
#8Earlier quoted context omitted.
If the best case scenario is Bitcoin hits $1,000,000 per coin and never moves again, why would anyone ever put more money into it? The only value Bitcoin has is appreciation. If it ever becomes stable it will necessarily be worthless.
Presumably at 1 mil per coin it has become our defacto medium of exchange. Actual bitcoins become the new gold bars, sitting untouched in vaults and used as a reserve backing other more efficient means of crypto exchange.
Why would they be used to back anything? Why not just use a crypto-currency that isn't clogged by developers trying to make people use their proprietary service?
Re: The World's Biggest Wealth Manager Won't Touch Bitcoin
#9>“All it would take would be one terrorist incident in the U.S. funded by bitcoin for the U.S. regulator to much more seriously step in and take action, he said. “That’s a risk, an unquantifiable risk, bitcoin has that another currency doesn’t." You can't make this up... or maybe I'm not understanding something. So, what's currently funding terrorist attacks?
I don't understand the comment either.
It's not like terrorist groups are currently un-funded. Cash is still king around illegal activities of all kinds. Why is using bitcoin for illegal activity any different than untraceable cash?
Re: The World's Biggest Wealth Manager Won't Touch Bitcoin
#10> How do you know when to get out of a bitcoin investment? That's the thing. When Bitcoin succeeds, you won't have to get out of the investment.
If the best case scenario is Bitcoin hits $1,000,000 per coin and never moves again, why would anyone ever put more money into it? The only value Bitcoin has is appreciation. If it ever becomes stable it will necessarily be worthless.
If Bitcoin hits $1M per coin, then Satoshi Nakamoto will be the world’s first trillionaire. Not a bad return for 10 days of mining.