Bobby Lee — co-founder and former CEO of China's first crypto exchange BTCC — says the Chinese have always thought of Bitcoin as an investment rather than a payment system.
Lee made his remarks during an interview for Charlie Shrem’s Untold Stories podcast on Sept. 18.
- In accordance to what Bobby Lee said, it is indeed that China thought of bitcoin as an investment.
This might be the reason why China was one of the biggest percentage average of having a bitcoin mining farm.
all over the world, What's your view about this thought?
This thinking have to change, as bitcoin price increase is slowing down with maturity. Perhaps until now, and perhaps for a little bit further, you could thing of bitcoin as "investment", but in the future, you should rather think of bitcoin as value preserving.
First, think that anything fiat loses value, depending on place from 2% to millions % yearly. So to avoid this, you should move your savings into bitcoin or gold. Then, of course at some point you want to use a bit of your savings, and that is when you can simply spend it directly rather than the inconvenience of exchanging it for fiat first.
Don't expect just buying bitcoin will give you so much profit you can quit your job. That might have been the case in the beginning, but with each passing day it will be less and less true. You will never get the giant returns people who invested early made in the past. Those times are gone.
Even if you don't want to see it as a payment system, look at it as a money (wire) transfer system. For this purpose Bitcoin is perfect as it is, and of course to save your money from induced inflation from the misled ruling governments and institutions following school of Chicago dogma.