As the saying goes, “Everyone buys bitcoin at the price they deserve.”
You’re today years old. If you haven’t already, it’s about time you learned what money is and how the global financial system works. Research the history of the Federal Reserve to get started.
It’s all shared story telling. We made it all up. Money is a tool for keeping track of credits and debits, like a ledger, and Bitcoin is the first example of the best ledger humans have ever created. Don’t get stuck in the “okay, I see value in blockchains, but not cryptocurrency” fallacy because the value of the cryptocurrency given to the miners (or “validators” which provide the triple entry accounting validation feature) is what secures the ledger making it immutable and useful as a global, non-violent record of consensus.
The technology changes often (you may hear more about DAGs, directed acyclic graphs, in the future as an improvement on blockchains), but what matters most is the stories we choose to believe. The community who believes in a form of money makes it work as money.
Nothing but belief and trust backs the purchasing power of BTC.
Same for 💵💲💰. The belief and trust in the US dollar (being created out of nothing at an unprecedented rate) is decreasing. When BTC hits $500,000 or $1,000,000 per 100,000,000 satoshis (the smallest unit of BTC), it will be clear it’s measuring the fall of debt-based fiat currency.
If you see this message and ignore it, don’t complain to me in five to ten years that no one told you or I might repeat back to you another saying the BTC community uses:
“Have fun staying poor.”
And no, I’m not talking about gambling or going into debt to speculate, and I’m damn sure not talking about some shitcoin some degen is trying to unload on you. Start with not buying something you normally would and pick up a little BTC instead. For US citizens, you can easily use Coinbase (here’s a referral link). Get yourself out of debt so you can start to build wealth. Start small and learn about what BTC and cryptocurrency actually is and how to use it.
Those who have listened to me on this topic over the last ten years I’ve been talking about it regularly thank me for the information I shared with them. I look forward to your thanks in the future also.
Remember, investments are for three to five years at least. Speculation is for short term day traders and gamblers. I have zero sympathy for those who get burned speculating and don’t take it on the chin as part of their education.
If you have any questions, feel free to ask them here.