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I once bought 0.0167 BTC at close to 1 BTC = 30k USD evaluation, I was able to sell it for double the value in late 2021, bought some really nice groceries that month. Looking at the 5 year chart it looks like I couldn't have sold at a better time, lmao.
Good going. Nice groceries are under appreciated. But the watching fresh veggies cook is considerably therapeutic
You could have sold now since it's 42k now.
I love the future of cryptocurrency where bread will cost 1BTC today and 0.1BTC tomorrow and 10BTC the next.
Ain't no loaf of bread costing $42,000.
Yet.
This would never happen with any other currency ever.
Not on such a short timeline, but precious metals were left behind for a reason.
I thought precious metals were left behind so roman emporers could debase the value of coins to build "great" works.
but 42k is lower than 60k
October’s 12 month inflation rate was 3.2% trending downwards…
They had me going in the first half, not gonna lie.
Holy shit only down 50% which hot crypto is that? I gotta invest, it's clearly gonna moon if it's not fallen 90% like others! Magical unicorn!!
Only half? Lucky.
Image Transcription: Twitter Post
Redacted
With inflation at 7.5%, you lose half your money in 9 years. The only way to outperform that consistently, that I have found, is crypto. Just this year I've already lost half my money.
Thank you for the transcription! ❤️
Bitcoin is not about investment any more than Lemmy is. It is about decentralization that unfortunately has been viewed as an investment.
The thing is that we don't want decentralisation when it comes to money.
Money used to be completely decentralised in the past, there is a reason why we moved away from it.
We are now re-encountering the same issues with cryto as we had in past with real money.
For example our current system allows us to undo human mistakes, like accidentally sending money to the wrong address. With crypto, that just isn't possible.
It is the same reason why so many crypto exchanges popped up, they are essentially the banks of crypto, who have control over the different transactions of their users.
But because it is less regulated, tons of those exchanges are basically scams.
To know how scummy they are, visit: web3isgoinggreat.com
Lemmy being decentralized is a solution to a problem that exists: media companies start nice and then fuck their users when they have enough of them. Decentralization means that acquiring that much power to rug pull is way harder.
Bitcoin has been forever a solution without a problem. The concept of Bitcoin doesn't make sense, the execution of it even less. So the only use it has is taking advantage of techbros' hopium that one day an actual problem will be solved by Bitcoin.
monero is a better option in this case
Bitcoin doesn't even do the job of decentralization very well either. The blockchain is controlled by the wealthy miners with warehouses full of asic miners. Monero is a better cryptocurrency for that reason.
And then tomorrow it'll triple
Feb 22
ominous
This is good for bitcoin
Bitcoin is up almost 150% this year.
Now do 2 years
It's down about 7% from December 2021.
No, it's down 28% from December 3, 2021
prib