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What would you do with a bitcoin windfall?
(lemmy.world)
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this post was submitted on 29 Jul 2024
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Take your free money and put into something with real, actual backing value. Ignore the gambler side - it’s just the devil on your shoulder. This is free money. Let it work for you over the next couple decades.
This seems to be the majority opinion. I'm thinking moving the majority to sound investments is my likely course. I do think keeping a little that wouldn't sting badly to lose still scratches the itch without risking regret.
You got the money in the first place because you stood apart from the majority. Don't assume they are better than you
I would not have kept it this long. I remember being mad it was gone when it hit $1000, because that seemed insane. It's realistic to think I would have sold then.
The stock market or real estate are yet another form of gambling and another face of the devil
In the short term, sure. In the long term the S&P 500 averages 8%/year for 100 years. I would argue that is a much, much smaller gamble.
Bitcoin were designed so that you own them. Trusting your money on for profit corporations isn't going to pay off in the long term, i think you want to look a little further than your own wallet
I don’t understand your argument. Wall street was designed so that you and i could own actual shares in companies. Companies which produce goods and/or services. What is the backing value of bitcoin other than others possibly wanting bitcoin? What backs it other than demand?
I have owned crypto. I have made a lot of money off crypto. But to think it is safer than traditional investing i think is a bit naive. It’s, so far, a supposed solution looking for a problem.
Sounds like you never own many, someone else owned them for you. I encourage you to learn better how cryptocurrencies works
Sounds like you don’t have much left to say and can’t back up your point, so you get personal.
You still don't have idea what i'm talking about because you still haven't put 5 minutes to learn about cryptocurrencies.
https://archive.org/details/bitcoin-whitepaper
Lol ok.