Quote:
Originally Posted by tom2021
I ignored bitcoin and didn't bother to learn about it for years.
I thought it was like a ponzi scheme, could be hacked and the value could go down to zero.
Now, I start paying attention to the news about bitcoin and take time to learn about it.
I come to think it is a good investment asset.
1. Bitcoin started in 2009. Twelve years later, it hasn't been wiped out by hackers. So, the algorithms behind it are solid.
2. More and more people own bitcoin. Venezuela will use Bitcoin as their currency! Unlike ponzi scheme, no worries it will be worthless in the near future.
3. There are bitcoin ATMs now, where you can buy bitcoin.
The world have abandoned the Bretton Woods Agreement. All currencies are issued by countries with the assumption that each nation can support the value of its currency. However, many countries suffered from hyperinflation and their currencies became worthless.
In conclusion, if we think that bitcoin is not worth it since we just rely on the next person to buy it, isn't it similar to all currencies in the world?
Any thoughts?
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My best advice: buy low, sell high.