For the record, I retired early at 55 years old, and part of the reason I could, is because of my past luck with bitcoin. I was also smart with my money, stayed debt-free, etc, but bitcoin helped a LOT. So I’m very biased, and this is just my personal opinion. Do not take anything I say as advice! YMMV
Also, crypto IS gambling, so only buy as much as you can afford to lose.
With everything going on in the world right now like bank drama, inflation running wild, global uncertainty, it’s honestly kind of wild that bitcoin is holding up as well as it is. A lot of assets would’ve dropped off a cliff by now. But bitcoin’s just… sitting there. Doing its thing. That says something.
One of the biggest reasons is that bitcoin isn’t like everything else. It’s got a hard supply cap. There’ll never be more than 21 million of them. That’s a huge deal in a time when governments can print money like it’s nothing. Bitcoin doesn’t play by those rules. It’s simple supply and demand, and when demand spikes, there’s no printing press to bail anybody out.
People like to argue that it’s too volatile, but honestly, that’s just part of how this asset works. It’s newer. It’s still growing. And yet even with all the fear and chaos out there, it hasn’t tanked the way you’d expect a “risky” asset to. If anything, it’s been weirdly steady. You’ve got big institutions quietly buying in now; the same ones that used to trash talk it.
Sure, it might still swing up and down. That’s part of the ride. But every time bitcoin’s written off, it comes back stronger. And lately, it’s been doing a better job holding its value than some so-called “safe” assets. That’s not luck, that’s evolution. It’s maturing in real time.
Nobody’s saying go all-in or bet your retirement on it. But at this point, pretending it doesn’t matter? That’s getting harder to justify. If the last few years have shown anything, it’s that bitcoin was built for moments like this. And so far, it’s proving itself.
Well, I don’t think it’s a scam because of Bitcoin’s actual purpose. It was supposed to be used as a legitimate form of alternative currency.
Speculators have decided that it’s an investment, which changed all the dynamics. I still use it for it’s original purpose, but I think Nano is far superior (and faster) alternative for it when using it for transactions. I love Nano, but not as an investment.
I mostly just speculate with BTC now, and I profit from it. But like you said, it’s very much gambling now. So I never invest more than I can afford to lose. It’s def more fun watching the market swings this way.
I actually use BTC profits to fly to Vegas with my gf. But I don’t gamble there, I just like hanging out there and acting like a big roller for a few weeks here and there, and seeing the vibe. We have friends there, so we don’t have to rent a hotel or anything.
Definitely true. I was being a lot looser in my usage, kinda pointing to any inflated item being a “scam” in that bubbles are almost always going to burst, and folks that hype bubbles largely want to ride the edge of it for their own benefit.
That’s different from just playing the market, btw. In my mind at least.
Kinda surprised to see a nano fan in the wild lol. It’s the only one I’ve really used at all. I mean, I’ve used monero to transfer stuff, but I don’t hold onto it, but I’ve got some nano sitting around.
Right? Nano is freakin’ instant. I don’t know how come more people don’t use it!
Same here. It really is the best option, imo