Originally Posted by rickair7777 (Post 4017651)

My take...

BTC has no inherent value, aside from a product of it's scarcity (difficulty to mine), versus it's utility to people who value privacy (mostly but not entirely criminals, rogue state and non-state actors, sovereign citizens, etc).

It *might* have utility as a speculative investment vehicle. But very hard to predict outcomes, at least for the likes of me. Personally if I was going to speculative I'd do it in a market that was easier to comprehend, like real estate or maybe VC for specific industries.

Also worth noting that blockchains *might* be susceptible to hack via quantum computing... if that happens even once, BTC and all similar crypto will become instantly worthless. I'm not saying it *can* be hacked by QC, but after looking into it a bit I also can't really say I'm confident that it cannot ever be hacked by QC.

Of course all of the above is just investment advice from a pilot.

Originally Posted by AAdvocate (Post 4017652)

Bro's whole platform is "just google it" lol

Originally Posted by MiracleMets (Post 4017646)

Warren Buffet is one opinion out of many and he’s basically retired I believe. He’s sees no intrinsic value in it because he doesn’t have to. He has already made his billions. I pose a question though, what is intrinsic value? Assets have value because people give it value. Baseball cards that sell for 100k have no intrinsic value, but someone bought it for 100k. Larry Finks official Blackrock position is that you should have about 5 percent allocated to BTC, while his unofficial personal position is that you should have everything in BTC. I think that’s a bit much but whatever. Jamie Dymon even has capitulated. Freddie Mac and Fannie Mae are now considering your crypto holdings as assets when they assess you for a home loan, which is something they don’t do for Gold. I can take a cash loan on a decentralized finance smart contract against my BTC with no paperwork involved and never talk to another human in 5 minutes. I don’t know where Bitcoin will go, but it’s not zero. And if it’s not zero then it’s infinity. At what price will you say it finally has value? 200,000? 350,000? 1,000,000? The people who hate it have been hating it since it was priced at a penny. But it has value and today that value is 70,000 USD.

Believe me, I understand your opinion. I was once there when I didn’t understand what BTC is. I think your opinion would change if you actually invested time and energy into researching it. The smartest people on the planet have publicly disclosed bitcoin positions, every single person in this administration publicly hold bitcoin (except for David Sachs who sold all of his crypto holdings so he could be the crypto and AI czar without a conflict of interest), the tech bros and I would bet one whole bitcoin that Warren Buffett owns bitcoin. Also, if you have a 401k that invests in the SP500, you have bitcoin exposure whether you like it or not. Coinbase, Strategy, and IBIT. Brother, I promise you’re exposed to bitcoin and you don’t even know it.

Originally Posted by Clearedtocross (Post 4017658)

Um ok, I can take advice from the best investor to ever walk the planet, or a PILOT on a forum who has an incentive to add bitcoin buyers so his shares go up. I really have to think on this for a while…

Originally Posted by 11atsomto (Post 4017660)

You may have met or heard of someone who has gotten rich from crypto.
You likely know even more people, possibly have their phone numbers stored in your iPhone who have lost Tens of Thousands in Crypto………….they just haven’t told you.

Originally Posted by MiracleMets (Post 4017659)

Don’t hurt yourself. I’m trying to back up my position with rational thought, logic, and facts and your argument is “you’re a pilot so bitcoin is stupid, Warren Buffett is a god and I must follow only his advice.” Don’t buy it man…jeez. But at least come up with a valuable argument other than that.

Originally Posted by Clearedtocross (Post 4017667)

Rational thought and logic at the casino - got it.
A pilot handing out gambling tips under the guise of investment advice and claims to know more than Warren Buffet.
Hilarious!

Originally Posted by MiracleMets (Post 4017668)

When did I claim to know more than Warren buffet? Whatever man. Dont buy it. I don’t want you to buy it. I want you to see the price at 200,000 screaming about its lack of intrinsic value.

Originally Posted by Clearedtocross (Post 4017658)

Um ok, I can take advise from ...... a PILOT on a forum who has an incentive to add bitcoin buyers so his shares go up. I really have to think on this for a while…