0 sats \ 0 replies \ @Chep 5 Mar \ on: Microstrategy to raise $600 Million to buy more Bitcoin bitcoin
Gigachad
"We will now only send payments to addresses that have specifically opted in to receiving them." I love this. If you could figure out a way to ask the user as well how many sats would you need to be willing to receive a zapvertisement that would be dope
History is not always an indication of the future and while I agree it is likely that if we get an insane new ATH it will come back down, but taking profit in fiat when you have the most sound money ever is like taking profit in turkish lira when you have access to dollars. I simply use bitcoin as a savings account and keep what I need in dollars to pay bills. Trying to time markets is a fool's game unless you want to commit to it full time
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Lack of Demerits
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I would not write anything off but I do believe it will be much harder to get people to part with their bitcoin. Unlike gold bitcoin is just private keys. You can store it so many different ways. Also in a digital age people would get on social media and point out how ridiculous it is for the government to try and confiscate people's hard earned bitcoin. Not saying that will stop them but it will expose them in many ways and you can move to a different jurisdiction with all your wealth if you are a Bitcoiner. The one thing that gold has over bitcoin is, as you pointed out, KYC. KYC sats are much easier to track than gold. However, a lot easier to "lose your bitcoin" than it is to lose gold.
Interesting perspective. When you say bitcoin will start losing its quote price do you mean that people will just use btc as the new unit of account instead of dollars? If so I do agree. I just attended an excellent meetup in NYC discussing how bitcoin is the solution to negative prices for energy during times of low demand (it still blows my mind there are actual times when energy producers must pay people to take energy off their hands). Bitcoin will completely eliminate this need since miners will be able to monetize all excess energy.