Quote:
Originally Posted by Fuzz
All those things have value besides "it has value". What does owning a Bitcoin provide as a benefit, other than owning a Bitcoin? Can you explain in a way that isn't circular?
And look, it's fair enough to say "I have no idea, but it keeps going up and making me money, so that's all that matters." That's a perfectly good reason to own it, so long as you expect it to keep doing that.
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They have value because someone says they have value...like anything else. There is value in the technology. There is no safer, faster, cheaper, anonymous, or more secure way to move say 2M of wealth than BTC.
If I wasn't convinced of BTC as a long term asset I would sell it and invest in XEQT or something. My strategy is and always will be do what the whales are doing even if on a smaller scale. I learned a long time a go that a handful of people run the world like it or not...you are either in or in the way.