Bitcoin
Bitcoin
Out of context: Reply #1722
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- drgs0
Michael Saylor, entrepreneur behind MicroStrategy (which owns 70 000 BTC). They bought a sizable amount during this rally. Anyway, the dude is having a meltdown
https://twitter.com/michael_sayl…
- I get why people put money into Bitcoin from the perceived risk of currency devaluation. But unless bitcoin goes up (continued inflow of said devalued currency)shapesalad
- , when people do what to use their stored value, considering how bad bitcoin is at payments, you'd need to convert it back to said devalued currency.shapesalad
- Eg, $100 into bitcoin today.. wait 5 years, inflation means you need £1k to have the buying power of £100 in 2020. You convert bitcoin to $, and it becomes $1kshapesalad
- or... less or more.. all depends on the exchange rate between $ and bitcoin. And no one knows where that will be.shapesalad
- Seems buying gold... while not exciting, is somewhat more... at least useful to a jewellery shop...shapesalad
- BTC absorbs energy now huh? Reads like he just discovered William Gibson after doing a speedball. Said it when he first bought into the market...jonny_quest_lives
- Dude's gonna pull a full "McAfee"...jonny_quest_lives