I've been watching (politically hypnotized) people distancing themselves from Bitcoin, calling it "Pedocoin" and stuff like that.
You know what I think in that case? "Just wait until they find out about the US dollar!"
Thanks. But I'll hold onto my Bitcoin.
I saw someone else saying, "Gold is collapsing, silver is collapsing, Bitcoin is collapsing, the US dollar is collapsing, the stock market is collapsing, so where should we put our money?"
What money would that be? Some money that is none of the above?
Don't "put" your money anywhere.
Hold your precious metals. Hold your Bitcoin. Use your US dollars to get more of the real money of your choice... and beans, rice, and ammo as long as you still can. That's what US dollars are best for. Don't hold on to dollars unless you're OK with seeing that final 2¢ (what's left of a 1913 Dollar) evaporate.
A collapsing precious metal is still safer than a dollar.
I suspect a collapsing Bitcoin is also safer than a collapsing US dollar.
You don't have to outrun the bear; you only have to outrun enough of the other people.
I'd rather risk being dragged down by a sinking boat's vortex than be trapped in its lower decks with no way out.
Don't let economically ignorant Keynesian "economists" worry you. This is all probably a result of their influence anyway. Why listen to those who caused the problem when they give you advice on what to do about the problem? Especially when their advice is "Panic!"
Tips are nice.
When Bitcoin is up versus the dollar, I consider it the equivalent of things I'd like to buy being "on sale" (I can buy more of that stuff for less Bitcoin than I could the day before). Including silver, which I sometimes buy when silver is "low" and Bitcoin is "high."
ReplyDeleteWhen Bitcoin is down versus the dollar, I just let it sit, in reasonable confidence that it will come back up in relative price/value (that's never not happened; since it can't be artificially or politically inflated, I don't expect it will).
I do think that it will be "going to the moon" at some point, but not for a good reason:
The "big players" are stockpiling it. When it's down, they buy the dip. When it's up, they don't sell. Which means that, since there's a maximum number of total Bitcoins, fewer of them will be moving around the market, keeping supply low versus demand. When and if they sell, it will be in little dribbles so that they keep their "store of value" numbers high for their balance sheets.
That will be good for those of us who still have a little Bitcoin sitting around, because it will be worth more. But I'd rather see it used as an active and popular medium of exchange rather than as a corporate store of value.
That aligns with my take, as well. I haven't bought any silver with Bitcoin in several years, but I have bought some guns and gun accessories (a couple of red dots) that I wouldn't have been able to afford otherwise. It's a fun ride.
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