In seriousness I'll try and answer you a bit here:
I am compelled to follow up - why should anyone invest in bitcoin? Fiat return? Future potential for fiat return? Value retention? Acquisition of secure digital assets/property?
Why? Fiat Return, definitely the trend over the last five years has been a resounding yes, future potential is of course there, value retention definitely, and of course if you have the coins in a wallet that is yours (not an exchanges) your keys means your coins.
Thank you, kingcolex, for the clear response.
Although I'm not totally unfamiliar with SHA256 and the concept of sovereign ownership (I find these things quite interesting), I see that you've highlighted fiat return as a primary reason for financial investment into the bitcoin project.
I invest in Bitcoin due a to a few things, what I learned from dealing with Foreign investors who had strict government restrictions (China) on how much money they were allowed to bring out of the nation, wiring delay times, proof of funds, proof of ownership of funds and sourcing of funds. Bitcoin solves all of this without a company at the center that can freeze or control user funds, it can't go bankrupt and there is a limited number of coins that will never change.
Although I've heard these points made previously, I appreciate your restating of them, as I believe some of these innovations will have massive implications with regards to the way the global economy evolves.
As for there being a "limited supply", is this not simply a variable, able to be changed at the discretion of the largest and most powerful network contributors?
I believe JJG was trying to get at that when you own some (even a small bit) you could experience these things all for yourself, you can also sign messages with your wallet that proves that you are the one in control of the funds which is a neat way to prove who is who and who owns what and I definitely think it does help one understand the technology.
This is very intriguing - are there any guides or tutorials that explain exactly how to do this?
You can read all about stocks, but nothing helps you understand a market like owning a couple of shares yourself. That is all the same with Crypto and Bitcoin.
I'm still not sure that this is necessarily true.
I'm not even sure it's worth continuing to suggest investing, to be honest. Does it further the discussion regarding technical understanding? Does it do anything other than simply pressure others to join "your side"?
If you have an amount you can immediately peg it to a fiat amount you paid and in 1 month, 6 months, 1 year see how this crypto market really works and how it moves. No skin in the game leads to loss of focus and paying attention, I know I pay a lot more attention to markets where I am fiscally vulnerable.
Back to the primary motivation of fiat return (and potential loss), I see - is this how most people see bitcoin? A purely speculative asset and/or tool for gambling?
Poll
