What happens when Peter Thiel buys Bitcoin
This morning I woke up to some wonderful news :)
Bitcoin seems to be waking up after a bit of slumber and it seems the man behind this recent upwards movement is none other than the real life Iron Man's (Elon Musk) friend - Peter Thiel.
So although most people know Elon Musk because of Paypal, Tesla and SpaceX, Peter Thiel is actually an equally successful genius. Not only is he Paypal co-founder but he was also an early investor in Facebook, both enormously successful companies. Peter Thiel is an open Bitcoin Bull and when the news came out that his VC Company "Founder's Fund" owns hundreds and millions of dollars worth of Bitcoin, the Bitcoin price saw an instant upward movement.
Ok, so Bitcoin has not hit a new all time high and a few percentage point gain in the crypto world is hardly something to write home about. So why am I so excited about it? Well it is the context in which the current news came out. There has been a lot of negativity recently about the future of Bitcoin. Some think that it has hit the peak and a lot of people are unsure whether they should be buying Bitcoin anymore. Then there is this growing uncertainty about how different nations intend to regulate cryptocurrency which has all contributed to Bitcoin taking a bit of a bashing over the Christmas period. I think it is time to bring back some positivity in the life of crypto giant and all those who are HODLing. I am not going to get into the blocksize and transaction fees debate and yadi yadi yada (yawn) as those issues are being worked on by people who know what they are doing. What is exciting about Founder's Fund buying Bitcoin is the confidence it shows in the future of Bitcoin.
Peter Thiel is one of the most prominent figures along with John McAfee who strongly believes that Bitcoin is still greatly underestimated! I think the man has a point. If you think about just the Bitcoin brand, it is what comes to most people's mind when you talk about cryptocurrency. Although there are a lot of wonderful altcoins like Steem, Bitcoin is something else. It is the first cryptocurrency!
There are people in the world, very wealthy ones, who would just never sell their Bitcoin because they would like to brag to others at dinner parties that they've got some.
I know it sounds funny but just look around. I am sure you have someone in your network who would like to hold on to their one bitcoin forever and pass it on to the next generation like a family heirloom. This only means one thing for a currency with limited supply and that is: the price is going to go up up up!
What do you think about Peter Thiel's confidence in Bitcoin's future?
Source: "Bitcoin Price rises after report says early facebook investor Peter Thiel is buying massive amounts"
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STOPGreat post Lucy
You will notice I am trying to conserve my 100% upvotes on posts instead of replies hoping that you will receive more notice. By the way, what country do you and your family live? It might help me to speak more intelligently to you.
Thank you so much @dwarrilow2002 I truly appreciate your support and encouragement. It means a lot to me :)
My husband and I live in Malta (Europe) but we have close family (parents, siblings and kids) in South Africa, India, UK and USA. Malta is a tiny island nation in the Mediterranean. It's so small that you won't even see it on the world map without a magnifying glass :D
I envy you at this time of the year. I just came in from doing a little shopping and it was white out conditions. I see that currently the temperature in Malta is 16 degrees. Where I live in Ontario, Canada it is a similar temperature minus 16 degrees.
I have been particularly interested in Malta because I am interested in prehistoric cultures. I've seen images and wonder about the cause of the ruts at Misraħ Għar il-Kbir.
I can't even imagine what minus 16 degrees must be like. I was complaining to my husband that it is freezing cold at 16 degrees but now I can appreciate what freezing cold must be like :D
The ruts at Misraħ Għar il-Kbir are a bit of a mystery. It is strange when one lives in the country they seldom appreciate and investigate these things about the local culture. Until you pointed it out, I had not even thought about it. We live very close to Ġgantija temples (you can walk from our home to the temple). It is strange to think that 5500 years ago people were living here and building these structures and living such different lives.
Surprisingly freezing cold is very similar to being too close to a fire. Your skin burns in the cold. What is different is how the cold seems to penetrate your bones. Parts of your body starts to shiver that really shouldn't. If one gets really cold, your entire body shudders and you don't have control over it.
In my experience, people are pretty much the same wherever you go. I assume the this would apply to whenever as well. People tell jokes, people laugh, people cry. Of interest people who are slaves do not whistle. Funny how very few people whistle in our society.
:) I remember hearings one of my professors say that at University that extreme cold creates the same burning sensation as extreme heat. I think I am just overly sensitive to changes in weather because anything over 25 degrees feels too hot to me as well 😂
I agree people are certainly more or less the same everywhere. We laugh and cry about same things.
We have a couple of housekeepers who cannot stand the heat as well. The past week the house has been really cold (especially at night). It turns out that someone had gone around and closed all the heating vents. (We have a central furnace which blows hot air through vents to all the rooms in the house). My parents who are in their late 80's and early 90's cannot get enough heat, while the housekeeper who comes once a week (has entered middle aged and cannot stand the heat) goes around opening windows and turning off the furnace. I just retreat to the office and close the windows and turn back on the furnace after she or her co-worker leave (somehow they always forget to turn things back on).
A smart cookie you are! I agree that Thiel made positive waves through the bitcoin community, in terms of value and morale. 🤓
You are an absolute star Lori! Thank you so much for dropping by my little home on the decentralized platform :) So lovely to hear from you. I hope we get some more positive vibes in the Bitcoin community (it's time for a new all time high :D )
Although the decentralised concept is interesting I keep having questions. Of course there's a hype now. Which is good to give the whole idea a boost.
Though how do you actually look at the value of bitcoin and other currencies? When bitcoin keeps on getting more 'value' (in dollars), it doesn't seem wise to actually spend them. So, they are some kind of set of numbers on your hard drive. Until? What needs to happen before bitcoin can actually be seen as a currency? Does it have the right features to be ever used as a currency?
If the 'value' actually goes to $500.000 in three years as some claim, then why would you not just keep them ... unused bits on a hard drive...
But they are not lie apples or pears you can actually use (when you are not willing to actually spend them ;) ).
Next to e.g. the openness. I (as in: I am Belgian, in my culture ...) am not used to having my bank account open to everyone who's interested. Nor my transactions...
I am wondering what I am missing...