Vlog 322: Bitcoin vs Fiat.
Someone gives you $6500 today but leaves you with 2 choices and you have to choose.
Bury the money for the next 10 years and then it's yours.
Buy a Bitcoin and keep it for 10 years and then it's yours.
Let's imagine 10 years have past and it's the year 2028.
What's do you think would have been the right choice?
This is a question that came up with a conversation I had with my dad last night.
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Since there is no accrued interest on buried $6500 and since BTC has been growing Since its creation, there is higher probability that BTC will be worth more after ten years and $6500 will have less purchasing power.
I would go for Number 2.
Buy a Bitcoin and keep it for 10 years and then it's yours.
No.
Buy a Steem and keep it for 10 years and then it's yours.
Yes.
lol! nice!
With fiat you are 100% certain the value will decrease, bitcoin has always increased in price on average for the last 9 years (despite all bubbles and drops) and will likely continue to do so as it is limited in supply 🤔🤔🤔 I’d go for bitcoin.
Same here. Although currently fiat is winning. 1 day in of 3650 :)
Ehm, oh my gosh what a crappy choice! I want half of it in bitcoin and half of it paying off my future house :-(
Mark @exyle can I Bury $6500.00 worth of SILVER (because it is Money) for 10 Years ? If so then that is my Choice....................
Not a bad choice I guess. When all fails.
I will go number 1 option because bitcoin has no guarantee, up and down its rule , so how can i say confidently that after 10 years its value wiil be increased? It can be down in a half or less, so i will absolutely choice number 1 option.
I would gamble on the bitcoin for sure... but.....
Any sort of technological apocalypse could just wipe it all out and make billions of dollars disappear. We are relying on technology that we can't individually control.
Should go for option no 2 ... for option number 1 should buy gold from the fiat and then bury so that it can secure the value of money over time.
I would buy a bitcoin with it @exyle. But if you gave me the choice to take the money now I would have done that! 😁
hahahahahahahaahahaha ...21st Century Oliver Twist
Yep. I suppose so @nicewoody69. 😂
I would go for option number 2. You never know what is going to happen in the next 10 years. I might not even be around. I'd rather have something in place for my loved ones that can be a big surprise. Much better than sending them out with a shovel to do manual labor :).
I think crypto still has a huge potential. I think there is going to be a point soon where things turn around and the weak hands get out of the market to just let it do what it needs to do. Governments will have decided what they plan to do and there should be a lot less volatility.