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Title: 2021-01-06 Forbes - Dreaming Of Becoming A Bitcoin Billionaire? Post by: acquafredda on January 07, 2021, 02:30:40 PM Dreaming Of Becoming A Bitcoin Billionaire? Ask These 5 Simple Questions First
Quote The only thing more contentious than politics today is Bitcoin. Ask the Twitterverse whether Bitcoin is a good investment and you’ll get too very different answers. First, the early adopters love to tell everybody when they first bought (or mined) Bitcoin. If they bought it any time earlier than a few minutes ago, they’ve probably made a fortune. Then there are the value investors who see Bitcoin as nothing more than “artificial gold,” as Charlie Munger describes the cryptocurrency. In his view, Bitcoin is nothing more than “total insanity.” Rather than try to convince anybody of one view or the other (although I’d never bet against Charlie Munger), here are some questions to consider before you starting buying Bitcoin. https://www.forbes.com/sites/robertberger/2021/01/06/dreaming-of-becoming-a-bitcoin-billionaire-ask-these-5-simple-questions-first/ Forbes is always in when it has to give some tips to bitcoiners. The author must have missed some nice buying opportunities along the way. Title: Re: 2021-01-06 Forbes - Dreaming Of Becoming A Bitcoin Billionaire? Post by: cr1776 on January 07, 2021, 03:50:16 PM "The author must have missed some nice buying opportunities along the way." - exactly.
Re the questions, seems click-bait-y to me: 1. Idiotic. 2. Kind of dumb answer, he neglects that if these institutional investors hold long term, it reduces available supply, which when demand is constant or increasing, results in higher fiat prices. 3. "...the concern can’t possibly justify the nearly doubling of Bitcoin’s price in 30 days." Certainly not. But the *awareness* of the concern AND the *awareness* of ways to combat the concern after 11 years of people poo-pooing the idea of crypto being protection certainly can. Before someone flew, or a satellite orbited the earth, things were different and it changed only in a few hours. Look at Sputnik for example. 4. He ignores elements of the "network effect" to make a point. 5. Fair point except the "may be divorced from reality" point. It may be, but it certainly was "divorced from reality" between 2009 and 2016. If Rob Berger had been as prescient as he acts now he would've had his clients buy pretty much any time between 2009 and June 2020 (or even through all of 2020 given the fiat price move since). Title: Re: 2021-01-06 Forbes - Dreaming Of Becoming A Bitcoin Billionaire? Post by: Karartma1 on January 08, 2021, 07:25:47 AM Quote The first obvious question is whether you can handle the volatility. Can you hold on to Bitcoin even if it drops by 50%? That’s an important question to ask with any investment. It’s particularly important with Bitcoin. If we, bitcoiners, would have asked this question we probably would have never been here in the first place. cr1776 is right on every point analyzed. The guy was probably asked to speak his own mind on the matter without being much knowledgeable on it. I personally sustained huge bitcoin drops during the years and I'm still here! ;D |