Bitcoin a Currency or Asset ?
I have been listening to those who are against Bitcoin, and hearing they call Bitcoin a asset rather than Currency. The funny thing is now we have the ability to buy many products and services by using Bitcoin. Bitcoin is more than an asset or currency, it is a worldwide decentralized store of value, that is easily traded for cash, goods and services.
To me the louder they claim it is a scam, the more Bitcoin i want to buy, as i know the price still reflects the views of those who doubt its value. In the future Bitcoins will be many multiples of today's price. I always buy and hold, and i won't be selling my Bitcoin regardless of the mainstream news.
The likelihood of a war with North Korea is rising everyday, and the value of traditional assets like shares and property seem to be very overvalued. Holding a portion of my Investments in Bitcoin, gives me security and confidence going into an uncertain future.
free use photograph from Google for publication
Many people are caught up in trading the CryptoCurrency market, trying to buy cheap and sell for profit on a daily basis. Whilst some investors maybe able to trade profitably, many lose money regularly. For me the best way to profit with minimum risk, is to spread my purchases over time, and simply buy and hold.
I buy a small amount of Bitcoin every 2 weeks, and this spreads my purchases over a long period of time. I will be holding Bitcoin for years, and i don't sell regardless of price fluctuations and news. I do believe that the long term price of Bitcoin will be well above $25000.
Now please remember, i am not an investment advisor, and all investing can lead to losses, i recommend you research for yourself.
Check this Bitcoin Savings Calculator. As you mentioned, DYOR.
https://for-bitcoin.com/calculator/
That is discipline and I have noticed many programs created to help newbies with this agenda for earning bitcoins. Some make a bad impression on newbies because they connect the bad experience to bitcoin. I don't dout that bitcoin is going to the moon its only a matter of time before we can see it with are own eyes.
#cof
Thanks for your comment and connecting from #cof. Don't use a program or invest through any other person, simply buy bitcoin regularly to spread the purchase price over time.
I see it as a long term store of wealth / commodity. A savings plan that is pretty much guaranteed to see good returns. However, I see at as more than that, and this is where it gets quite political. I can see it changing the world in a decade and liberating many people that have been repressed by current financial institutions that prey on the vulnerable in the pursuit of greed. Imagine what could happen in parts of the world where people don't have access to banking? As long as they have a smartphone, then they can be connected, involved and represented. The pillars of the old system are shaking, and will eventually crumble and collapse. It'll be a rock journey ahead, but one that bitcoin will succeed at in my opinion.
correct
Bitcoin has many possible applications but it seems as though "store of Value" has naturally taken the lead. This actually hinders it as a currency because lets be honest who would pay for groceries with Bitcoin rather than fiat when saving Bitcoin keeps accumulating value. This is nothing new though, Silver has been much more commonly used than Gold for instance as a day to day currency with Gold being more a store of value kept in a vault for a rainy day. One thing is certain, MATHEMATICS DOES NOT LIE , therefore Bitcoin is the greatest store of value in human history and anyone who cares about protecting their wealth long term is insane (Peter Schiff) if they don't hold even a little! Upvoted 🙏🏻
many thanks - i agree
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@daydreams4rock Bitcoins is a Saving Plan for long Term
for sure
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