Not trying to hype it or fight it.
Just curious how people think through the decision without getting influenced by friends or news.
How do you personally decide whether to ignore Bitcoin or take it seriously?
byu/Teddy_Rowden inBitcoinBeginners
Posted by Teddy_Rowden
7 Comments
Understanding the fundamentals is all that matters. Learn how money works. Ignore the noise.
Study Bitcoin. There are tons of resources out there on the fundamentals of what Bitcoin is and why it exists, then you can make an informed choice on whether or not you want to take it seriously.
For me it’s very simple: the government does not do what is best for its people. This is especially true when it comes to fiat – it is controlled by the government and imposed on us by them – it did not arise naturally as a medium of exchange, such as gold.
Furthermore, as they are in control, they are free to print as much as they desire and devalue the savings of their people.
Bitcoin is the hardest form of money ever created, with its hard cap of 21M coins and its decentralised nature which resists any form of government manipulation. I see BTC as a way to escape our broken fiat standard.
To be precise: what is the hardest part for you: volatility, buying safely, or self custody? I’m mapping the real blockers.
Buying power of your countries currency vs bitcoin over three last 20 years. Easiest argument
I am a skeptic. This is what keeps me on the fence:
1. Bitcoin is scarce but there is no limit to making alternatives that have the exact same bitcoin rules. Even the BTC scarcity is fake in that the network can fork at will.
2. No one can explain to me when it starts becoming a medium of exchange. Currently people just hold it because it is a store of value. So is it going to replace real money or not?
3. Investing in real businesses seems the best of both worlds. If push comes to shove would you rather own the means of production or a number on an arbitrary ledger? Obviously the people who own businesses are never going to trade those businesses for BTC…
i dont ignore btc but i care more about what enables new stuff. like sei hitting 500k daily gaming wallets or processing in 400ms matters more to me than store of value narratives