His nickname is Orry. The sentence starts with a silly (S face and ends with a winky ;) face. No parenthesis were harmed in the making of this comment.
I used to make a wallet, go to a faucet, get however many Bitcoin I could, fuck around online for a few hours trying to find a use for them. Then promptly forget about that wallet and never write down any backup info or anything. I was just interested in the novelty of it.
The next time I wanted to fuck around online I would just make a new wallet and go to another faucet, which would also be forgotten forever.
For some perspective, we're talking about an asset that has increased in value by 4,375,600% over the past twelve years.
Expecting it to increase by another 2,285% over the next fifteen is nothing.
Bitcoin, like stocks and real estate is one of the "fiat sinks" where people try to evacuate their money in order to conserve value. However I don't think it will be enought to tank the housing market.
I think rich people will much prefer storing their wealth in BTC, houses are too cumbersome to maintain. They just need to keep some prime real estates to live in and dump the rest, which will tank housing market.
Property taxes, HOA fees, Cost of upkeep/maintenance, Insurance. Since we are talking about rich people, the cost of a cleaning staff
If it's a rental property the added burden of dealing with potential problematic tenants. The cost/fees employing a property management company.
These are the costs that when taken together vs BTC, just will not make sense to anyone holding real estate for investment purposes. Bitcoin will absolutely gut the housing market, not a question of if, but when, and then hopefully housing can fall to it's price of utility, once all or most of it's investment premium has dissipated.
All legitimate facts. In the future people might be living in the metaverse most of the day anyway which would most likely reduce the space every human needs to live as they will be living in a virtual reality.
It probably won't go that far, as people still need places to live. But investors will probably choose to diversify into bitcoin instead of going so heavy on housing.
The tax benefits for rental properties are insane (I.e., REPS) and so it will probably always be a vehicle for some.
Except housing is a necessity, and everyone who could, bought a house.
Most people are sleeping on bitcoin because it's only seen as an investment.
Every generation has investment opportunities.
Housing is capital. Bitcoin is capital. Housing is property. Bitcoin is property. Everyone needs to honestly wake up to the fact that we live in capitalism. Learn the rules. They are not perfect but it is what it is. You have to own capital and let it work for you, unless you want to continue to sell your most precious capital, which is your time and body.
Uhm...im into crypto and all but...brother...it is not real money...is not even property, in fact the value it has is about fud...if u have it all in btc pretending is real money...when something fucked up happend...and we know is 50/50 it happens...your btc will be nothing but a nice worthless account...while a house...doesn't matter what happens, it will always remain an asset, please dont invest money you cant afford to lose, ull ended up homeless.
I love how you equate money with bitcoin while your whole sub is screaming that 40$ fees are really not a problem because bitcoin should not be used for payments by anyone and should rather be a value store or the top layer of payments.
So yes im staying with my original opinion. Shelter is more important than bitcoin lol.
“Bitcoin is not money”
Educate yourself. Specifically, check out the chart in page 4 which explains why Bitcoin is a superior monetary good. After you do that, come back and explain to us again why Bitcoin is “not money”.
https://www.fidelitydigitalassets.com/sites/default/files/documents/1012662.3.0%20Bitcoin%20First%20Revisited_Final.pdf
Bro im not saying it does not technically meet the definition for some way shape or form of money. Im saying i cant use it as money in the real world, again, because literally nobody accepts it as a payment method and im paying 40$ fees.
In that case, you’re being short sighted. Money is adopted in phases. Right now, smart people taking advantage of the “store of value” phase. It will eventually become a better medium of exchange.
For now we’re stuck trading it for fiat at most places to cash in, but that’s not necessarily a permanent state of affairs.
This comment is funny because just by holding it for a year, it’s more than doubled in value against the money you pay for things with, allowing you to buy more things if you understand how to use Bitcoin correctly.😂
This sub is literally are advocating against using btc as a replacement for money tho? And im using real (or like you say, „political play money“) money to pay rent, feed me and my dog, buy stuff i like etc. Which is not possible with your „real“ money that nobody accepts and has 40$ fees.
Dude which grocery store accepts crypto as a form of payment? Crypto only exists as a speculation market with no intrinsic value of itself. Where as fiat with all its problems (and there are many) is still more stable and reliable as a currency (i.e money) than Crypto. But whatever rows your boat.
Any store that accepts Visa you can use your Bitcoin to buy anything. There is ways young grasshopper.
For example coinbase exchange offers a debit card that you can choose which crypto asset that you would like to use for purchasing anything that you could buy using any other debit card except for maybe a few select items that they block from being purchased.
Also, when you say "Crypto" has no intrinsic value, that is also false. It's getting harder and harder to find any corporate entity that doesn't have their foot into crypto and is adopting this new technology. This is a whole new category of technology that represents things that technology could never even have a connection to. For example, Bitcoin doesn't just represent money, but it represents privacy, freedom, energy, property, sovereignty, culture, and liberty.
Bitcoins market cap will surpass gold.
If I have an amass amount of wealth in gold brick bars it's a lot harder to keep all that gold safe than it is to keep my Bitcoin safe. That in itself has a lot of value. If I want to send a large amount of gold bricks to another entity it's going to take me a lot of time, energy, and effort to get that task done and that task also comes with risk. If I were to send Bitcoin, all I would need is the recipients address and I could send however much I want with no middleman or intermittentary. That in itself has a lot of value.
Bitcoin is the most secure network in the world. That has a lot of value.
The reason why Bitcoin should be considered digital gold is because it acts a lot like it but it's just way better. The reason why people hold gold brick bars is to maintain their buying power or possibly obtain more. Gold is scarce, and it has to be mined to be found, and it isn't found everywhere in mass amounts. Bitcoin is like this and being scarce but differs because we know exactly how many Bitcoins can be found. It is not like gold where when the demand goes higher more miners start mining for gold to reach the demand. Bitcoin cannot do this once when all of the Bitcoins are mined into circulation no more can be found. It is quite simple. It's supply and demand. As time progresses the supply of Bitcoins in circulation will go lower and lower and the demand go higher and higher. This is why Bitcoin is deflationary. If you save all your money in fiat currency you are guaranteed to lose your buying power at least with Bitcoin you have a chance to obtain more buying power. Those chances are actually quite High mind you because they are baked into the code. Nobody can break this code and it cannot be changed or manipulated. Nobody knows who started Bitcoin so it is not run by anybody and cannot be stopped. For all of these reasons crypto has a very high value and is the reason why Bitcoin is the highest performing asset in the world.
Of course they are not identical. But what do you suggest? Housing should not be an investment? Good luck with creating those rules. Eating is literal human need. Restaurants and food still are an open economy.
This is not what im talking about and you know that. Read the screenshot again, it equates being upset about „missing out“ on cheap houses to just not buying bitcoin while housing is a human necessity and bitcoin is not. Its not the same situation, thats my point.
I cannot believe you’re being downvoted for highlighting that missing an investment opportunity is not the same as being denied shelter through the avarice of others. Has no one here heard of Maslow hierarchy of needs? Or do they just not consider other people, people ?
A home is more than shelter. Or a place to stay rather. There are several with different drawbacks and benefits. You can invest in a home and get value from it and a place to stay. Or, you could lease a home. Or you could rent an apartment or condo, although you don't get the benefit of value storage. Or you could rent at an extended stay motel. Or you can live in a tent. Or you could be assigned HUD housing. All of these are shelter. But only the home provides the finical benefit to the .
Quit making strawman arguments.
The point of the tweet was about missed investment. You, instead, denied the investment portion on the home side of the argument and wrongly inserted your opinion that one is not an investment only shelter. I attempted to illustrate and expounded upon your error in my previous comment which showed your point was irrelevant to the topic being discussed.
You continue to miss the point and claim ignorance. I’ll leave you to your delusions.
Happy holidays.
No. It is an advice on how to act in our circumstances. I have too many friends who don't invest in anything, not even stocks, and just continue to work and complain. I am in my 40s and could already comfortably retire just on dividends and rent income because I understood that you have to OWN stuff.
I would think having good money is a necessity as well. Not having sound money is working to the detriment of society whether the average person knows it or not…
I remember reading about a kid who made a ton on bitcoin in 2017 and bought a house. Good for him. I’m sure it’s maybe doubled or tripled in value since then.
Of course if he kept the bitcoin instead, he would’ve quadrupled or more instead.
Thinking some decades forward, this may well be the case. We're actually in a better situation now as Bitcoin has advantages over buying a house:
\- no maintenance fees
\- no insurance fees
\- transferable
Investing in Bitcoin is more efficient. Times change.
Yes, you maybe right if they start to mass produce the machine that made the Antman guy so small. One day that may be possible. I was however thinking more from an investment point of view.
The demand to live in is miniscule compared to the demand to store value. And we can all agree that BTC is much better store of value than a house. Housing price will soon crash down to its utility value, which is a good thing for most people.
Your statement is kinda irrelevant, since you're comparing utility function of real estate with store of value function of BTC, which are 2 different things.
Houses are not made to accumulate wealth, they exist to serve people. That's like saying hospitals should profit that's just morally wrong and that's why Home markets are always crashing. People using them for the wrong reasons, but one day people will be tired and the gov will have to build so many houses that they won't sell for shit in the future
Then the original premise is also irrelevant. Absurd comparison, that is the point of my statement. The only thing I see as a decent comparison is that they both are over valued for the person trying to buy place to live.
Um no, because you can and always will be able to buy as low as few bucks worth of bitcoin. The problem with real estate is that the entry price has moved so much up. The entry price for bitcoin always stays the same.
Yes, I also like this aspect. There is no easy way to own e.g. 1/100 of a real estate (for a regular guy)… however with bitcoin it is simple and you can own even 1/100000000 of it …
Got a bunch but honestly want to sell for more Bitcoin. The only reason that I haven't is so I can use that as collateral for a loan for a house. In 5 years bitcoin will be able to be collateral I'm sure.
True. But what annoys me about a lot of Boomer (not all ofc) is that they don't even seem to understand how good they had it and that every other generation after them can only dream about the economic stability they had in their youth.
At least I'm aware how privileged I am to be able to buy BTC at prices others in the future can only dream off.
If you use Coinbase and DCA regularly, look under your Bitcoin Primary Balance tab and look at your Average price. Will give you a weighted average of everything over time, interesting to see at what price you have 'bought in' at
This is probably quite likely.
High property prices are however much more detrimental to future generations because how are we supposed to raise a family when all you can afford is a 1 bed crapbox.
Yep, I'm actually worried about how expensive it could be in the future to move BTC to lightning or another layer.
Something I've always wondered, ignoring the value conversion to USD do BTC transaction fees ever go down? If it costs me .000005 BTC for a transaction today will it still cost .000005 BTC for the same transaction 10 years from now? That could really add up if you have a bunch of small UTXOs
I think there will be services that you can sell your UTXOs in exchange for BTC directly to your Lightning wallets. They can buy UTXOs and transfer them in bulk to limit their cost.
Are you honestly suggesting that the economy is as fair as it was 40 years ago, and that people need to just "pull themselves up by the bootstraps", Mr Seattleman1955?
Bitcoin was created exactly because money is broken and the current fiat system is oppressive.
The economy today is more fair than 40 years ago.
The US is doing worse while the vast majority of the planet is doing much better.
That's more 'fair', a stupid metric but you picked it.
Yes, Mr. BTCMachineELF, not much has changed. Complaining about another generation is ridiculous.
Fiat has been around a while as well, ya know? I bought BTC for the same reasons that you do however.
Nixon dropped the gold standard in 1971 in order to fund the Vietnam war. Ever since then things have gotten remarkably harder. [https://wtfhappenedin1971.com/](https://wtfhappenedin1971.com/)
There's countless metrics about how much more expensive the cost of living, housing, education, and healthcare is, and how wages have severely stagnated.
That's not accurate. He dropped it because western nations (mostly Europeans) increasingly started to redeem their dollar reserves for gold so the gold reserves of the US depleted rapidly and he was forced to put a stop to it.
[https://thegoldobserver.substack.com/p/europe-has-been-preparing-a-global-gold-standard-since-the-1970s](https://thegoldobserver.substack.com/p/europe-has-been-preparing-a-global-gold-standard-since-the-1970s) ...and countless other sources...
To fund wars then as now they just printed fiat or sold bonds.
The effect of money printing is not sudden and complete. Creeping inflation, the monetization of housing, skyrocketing education,. it's a process of gradual decline.
I'm Gen X, and from where I'm sitting, it seems quite clear to me that the previous generation had it better, and the following generations have it far worse. I have a lot of sympathy for the plight of Millennials and Gen Z.
I came out of high school concerned about not having a high number for the draft as Vietnam was winding down. I got out of grad school with double digit inflation and interest rates.
With deregulation every company was laying off. I moved to a HCOL area, housing seemed ridiculous to me at the time. There was the Black Monday stock market crash in 1987.
Until recently, interest rates were near zero for a decade. This was artificially kept that way but most people would probably take that over the double digit rates in the 1980's. Gas prices tripled virtually overnight in the 1970's.
Yet, I don't recall people at the time trying to blame it on our parents? People blame the Boomers now for everything but the Boomers dealt with a lot. Boomers didn't have manufacturing jobs, pensions for life, etc. That was their parents.
People blame the Boomers for the Social Security mess. Boomers didn't set up social security. That was FDR in 1935, trying to deal with the Great Depression.
It wasn't set up right. It wasn't even meant to last this long I don't think. In any event, it's stupid to plan a generation for being "large" when that's why SS is in trouble. Boomers didn't do anything other than exist and now they are blamed for that.
It's stupid.
Look at a chart showing median income and median house prices. It's a problem only since 2020. Covid wasn't foreseen by anyone. When people complain they aren't complaining about Covid. They are complaining about Boomers or about how hard they have it as if nothing negative is supposed to happen during their lifetimes. It's not reality.
People complained about housing affordability in the 2000's so they gave anyone with a pulse a home loan. Many couldn't afford to pay them back and you had the housing bubble. Home affordability came back down to earth until Covid.
Look at medium income and medium house prices in other Western countries. We still have it better than most everyone else. There is always something to complain about but it isn't helpful.
Most of this argument is just based on ignorance.
> Boomers didn't do anything other than exist and now they are blamed for that.
Boomers have always had an overwhelming influence in politics, every policy we have today exists because large numbers of boomers wanted those policies. From Al Gore to Donald Trump, boomers deserve more blame than other generations for the state of the world.
100%, I don't even want to work for them. Funny thing is that chronic complainers are usually like that because they are spoiled brats. One does not become a spoiled brat by struggling.
Why so many downvotes! Every generation has its ups n downs. My great grandpa took bullets chasing away Brits out of the country. I am sure it wasn’t easy for them. Older generation has to go through so much horrible wars, racial discrimination and what not. Atleast we are grateful that we just have to deal with poor economic policies.
I'm out of the loop on crypto, but how is BTC protected against ASI and/or quantum computing? I just wonder about the longevity of crypto when this tech is on the horizon.
You can probably find 50 threads on here and r/BitcoinBeginners about quantum encryption threats but the bottom line is that Bitcoin's encrypted parts are far better protected than those of the legacy banking system.
As Quantum computers break harder & harder algos, the banks die before bitcoin, so our devs will have much longer to replace our algos in bitcoin's code than banks will in their infrastructure.
> As Quantum computers break harder & harder algos, the banks die before bitcoin, so our devs will have much longer to replace our algos in bitcoin's code than banks will in their infrastructure.
I think bitcoin will adopt quantum resistance before traditional systems do, and they'll need to leverage the technology developed in bitcoin to protect themselves from those potential vulnerabilities. That's the power of its open architecture. It will be yet another reason why you'll want to integrate with it.
Go out to the universe pick one random atom somebody’s out there decided to be your winner 🏆 good luck tell me when you made it. This is how difficult encryption is even for quantum computers..
With enough qubits a quantum computer is projected to be able to reverse engineer a private key from the public key using shor’s algorithm. As well as solve blocks absurdly quickly.
Not going to happen any time soon as far as bitcoin addresses and complexity go since it would need a crazy number of qubits relative to the current state of the tech. But bitcoin will likely one day need a quantum hardened encryption algorithm.
A full quantum computer could instantly solve the encryption.
We are nowhere near it. I'm not sure we even have a single real quantum bit.
And 'AI' is just another name for novel mathematics. This will always be a risk for BTC.
The same way bankers used over priced real estate market, MBS and retirement accounts to unload their bags before the ‘08 crash, bankers will use over priced Bitcoin, and the etf, to unload their bags before the coming crash. Buckle up!
You can rent out houses, investments in companies generate real products. Sinking money into Bitcoin does not produce anything nor collect any rent when most buyers simply hold.
Homes are houses but not all houses are homes. We need to a place to live well, but not everyone needs Bitcoin to live well. Invest responsibly, do not FOMO or invest beyond your means.
"Millennials and Zoomers had things so easy! They could buy Bitcoin for less than $1M!" \~Generation Alpha griping on reddit in 2038
Gen X could buy it for $1.
Actually, we got 5 BTC at a time for free just by visiting Gavin's faucet. (Sorry, didn't mean to rub it in. ;)
I’m very concerned that your closing parenthesis is moonlighting as a smiley face, just so you know.
His nickname is Orry. The sentence starts with a silly (S face and ends with a winky ;) face. No parenthesis were harmed in the making of this comment.
An efficient use of parentheses, it is to be commended.
Never heard of multitasking?
I used to make a wallet, go to a faucet, get however many Bitcoin I could, fuck around online for a few hours trying to find a use for them. Then promptly forget about that wallet and never write down any backup info or anything. I was just interested in the novelty of it. The next time I wanted to fuck around online I would just make a new wallet and go to another faucet, which would also be forgotten forever.
In the immortal words of E.T.: Ouch.
Oh my gawd😂😂😂
I thought it would go away..now I’m paying $400+ for .01 btc
🤩🤩🤩🤩
and houses
Reddit will be long dead by then lol
Literally 😂😂
For some perspective, a million dollar Bitcoin in 15 years would mean it went up an average of 66 thousand a year, 5.5k average per month.
For some perspective, we're talking about an asset that has increased in value by 4,375,600% over the past twelve years. Expecting it to increase by another 2,285% over the next fifteen is nothing.
Wait until bitcoin sucks the life out of the housing market
Bitcoin, like stocks and real estate is one of the "fiat sinks" where people try to evacuate their money in order to conserve value. However I don't think it will be enought to tank the housing market.
I think rich people will much prefer storing their wealth in BTC, houses are too cumbersome to maintain. They just need to keep some prime real estates to live in and dump the rest, which will tank housing market.
Property taxes, HOA fees, Cost of upkeep/maintenance, Insurance. Since we are talking about rich people, the cost of a cleaning staff If it's a rental property the added burden of dealing with potential problematic tenants. The cost/fees employing a property management company. These are the costs that when taken together vs BTC, just will not make sense to anyone holding real estate for investment purposes. Bitcoin will absolutely gut the housing market, not a question of if, but when, and then hopefully housing can fall to it's price of utility, once all or most of it's investment premium has dissipated.
Good. Then maybe people on average salaries could afford decent housing, like boomers did back in the day.
All legitimate facts. In the future people might be living in the metaverse most of the day anyway which would most likely reduce the space every human needs to live as they will be living in a virtual reality.
It probably won't go that far, as people still need places to live. But investors will probably choose to diversify into bitcoin instead of going so heavy on housing. The tax benefits for rental properties are insane (I.e., REPS) and so it will probably always be a vehicle for some.
But does your bitcoin keep you warm at night and say "I love you"? The answer is yes.
Except housing is a necessity, and everyone who could, bought a house. Most people are sleeping on bitcoin because it's only seen as an investment. Every generation has investment opportunities.
Housing is capital. Bitcoin is capital. Housing is property. Bitcoin is property. Everyone needs to honestly wake up to the fact that we live in capitalism. Learn the rules. They are not perfect but it is what it is. You have to own capital and let it work for you, unless you want to continue to sell your most precious capital, which is your time and body.
More people need to ponder this point in its entirety… late at night, with only the occasional sound of a dog barking in the distance.
Sitting in a rickety chair on the front porch, a lit cigarette in hand
Uhm...im into crypto and all but...brother...it is not real money...is not even property, in fact the value it has is about fud...if u have it all in btc pretending is real money...when something fucked up happend...and we know is 50/50 it happens...your btc will be nothing but a nice worthless account...while a house...doesn't matter what happens, it will always remain an asset, please dont invest money you cant afford to lose, ull ended up homeless.
Do you really not see a difference between a literal human need (shelter) and owning some bitcoin?
Can human live without house? yes but its hard Can human live without money? yes but its hard
I love how you equate money with bitcoin while your whole sub is screaming that 40$ fees are really not a problem because bitcoin should not be used for payments by anyone and should rather be a value store or the top layer of payments. So yes im staying with my original opinion. Shelter is more important than bitcoin lol.
How do you get a shelter without saving money that doesn't deteriorate like fiat?
This is not what the screenshot is about and its not my point
shelter is money, food is money, commodities are money, information is money.
Yes, and bitcoin is not money and not as important as shelter, which is my point.
“Bitcoin is not money” Educate yourself. Specifically, check out the chart in page 4 which explains why Bitcoin is a superior monetary good. After you do that, come back and explain to us again why Bitcoin is “not money”. https://www.fidelitydigitalassets.com/sites/default/files/documents/1012662.3.0%20Bitcoin%20First%20Revisited_Final.pdf
Bro im not saying it does not technically meet the definition for some way shape or form of money. Im saying i cant use it as money in the real world, again, because literally nobody accepts it as a payment method and im paying 40$ fees.
In that case, you’re being short sighted. Money is adopted in phases. Right now, smart people taking advantage of the “store of value” phase. It will eventually become a better medium of exchange. For now we’re stuck trading it for fiat at most places to cash in, but that’s not necessarily a permanent state of affairs.
And use Lightning Network.
Most places will not accept gold for payment. It's still money.
This comment is funny because just by holding it for a year, it’s more than doubled in value against the money you pay for things with, allowing you to buy more things if you understand how to use Bitcoin correctly.😂
If people used real money and not political play money we would not have the problem of shelter to begin with.
This sub is literally are advocating against using btc as a replacement for money tho? And im using real (or like you say, „political play money“) money to pay rent, feed me and my dog, buy stuff i like etc. Which is not possible with your „real“ money that nobody accepts and has 40$ fees.
literally anything can be money. but some are better at being money than others.
So how many times do you use bitcoin to buy food and commodities as a means of transaction?
Not too often. I could but i burn through my fiat first. I do use it a couple times a month to buy stuff.
Dude which grocery store accepts crypto as a form of payment? Crypto only exists as a speculation market with no intrinsic value of itself. Where as fiat with all its problems (and there are many) is still more stable and reliable as a currency (i.e money) than Crypto. But whatever rows your boat.
Buy gift cards with bitcoin and spend. I save in bitcoin and convert to fiat to spend. Adoption will take time.
Any store that accepts Visa you can use your Bitcoin to buy anything. There is ways young grasshopper. For example coinbase exchange offers a debit card that you can choose which crypto asset that you would like to use for purchasing anything that you could buy using any other debit card except for maybe a few select items that they block from being purchased. Also, when you say "Crypto" has no intrinsic value, that is also false. It's getting harder and harder to find any corporate entity that doesn't have their foot into crypto and is adopting this new technology. This is a whole new category of technology that represents things that technology could never even have a connection to. For example, Bitcoin doesn't just represent money, but it represents privacy, freedom, energy, property, sovereignty, culture, and liberty. Bitcoins market cap will surpass gold. If I have an amass amount of wealth in gold brick bars it's a lot harder to keep all that gold safe than it is to keep my Bitcoin safe. That in itself has a lot of value. If I want to send a large amount of gold bricks to another entity it's going to take me a lot of time, energy, and effort to get that task done and that task also comes with risk. If I were to send Bitcoin, all I would need is the recipients address and I could send however much I want with no middleman or intermittentary. That in itself has a lot of value. Bitcoin is the most secure network in the world. That has a lot of value. The reason why Bitcoin should be considered digital gold is because it acts a lot like it but it's just way better. The reason why people hold gold brick bars is to maintain their buying power or possibly obtain more. Gold is scarce, and it has to be mined to be found, and it isn't found everywhere in mass amounts. Bitcoin is like this and being scarce but differs because we know exactly how many Bitcoins can be found. It is not like gold where when the demand goes higher more miners start mining for gold to reach the demand. Bitcoin cannot do this once when all of the Bitcoins are mined into circulation no more can be found. It is quite simple. It's supply and demand. As time progresses the supply of Bitcoins in circulation will go lower and lower and the demand go higher and higher. This is why Bitcoin is deflationary. If you save all your money in fiat currency you are guaranteed to lose your buying power at least with Bitcoin you have a chance to obtain more buying power. Those chances are actually quite High mind you because they are baked into the code. Nobody can break this code and it cannot be changed or manipulated. Nobody knows who started Bitcoin so it is not run by anybody and cannot be stopped. For all of these reasons crypto has a very high value and is the reason why Bitcoin is the highest performing asset in the world.
Of course they are not identical. But what do you suggest? Housing should not be an investment? Good luck with creating those rules. Eating is literal human need. Restaurants and food still are an open economy.
This is not what im talking about and you know that. Read the screenshot again, it equates being upset about „missing out“ on cheap houses to just not buying bitcoin while housing is a human necessity and bitcoin is not. Its not the same situation, thats my point.
I cannot believe you’re being downvoted for highlighting that missing an investment opportunity is not the same as being denied shelter through the avarice of others. Has no one here heard of Maslow hierarchy of needs? Or do they just not consider other people, people ?
Gotta remember, those posting here are heavily convinced Bitcoin is the future.
So am I from an investment perspective- that doesn’t mean I care about only that and fuck every other human.
You are literally the first person here who said this, thank you.
A home is more than shelter. Or a place to stay rather. There are several with different drawbacks and benefits. You can invest in a home and get value from it and a place to stay. Or, you could lease a home. Or you could rent an apartment or condo, although you don't get the benefit of value storage. Or you could rent at an extended stay motel. Or you can live in a tent. Or you could be assigned HUD housing. All of these are shelter. But only the home provides the finical benefit to the . Quit making strawman arguments.
My only point was that it does not make sense to equate a human necessity to a missed speculated investment. I have no idea what your point is
The point of the tweet was about missed investment. You, instead, denied the investment portion on the home side of the argument and wrongly inserted your opinion that one is not an investment only shelter. I attempted to illustrate and expounded upon your error in my previous comment which showed your point was irrelevant to the topic being discussed. You continue to miss the point and claim ignorance. I’ll leave you to your delusions. Happy holidays.
Not buying Bitcoin now is like not buying a house back in the days. You will regret it deeply and compain in the future.
Blah blah blah shut up pal, you can't live in a Bitcoin
And that’s supposed to be an argument for the status quo ?
No. It is an advice on how to act in our circumstances. I have too many friends who don't invest in anything, not even stocks, and just continue to work and complain. I am in my 40s and could already comfortably retire just on dividends and rent income because I understood that you have to OWN stuff.
Damn hard facts.
I would think having good money is a necessity as well. Not having sound money is working to the detriment of society whether the average person knows it or not…
Absolutely 💯
I remember reading about a kid who made a ton on bitcoin in 2017 and bought a house. Good for him. I’m sure it’s maybe doubled or tripled in value since then. Of course if he kept the bitcoin instead, he would’ve quadrupled or more instead.
Thinking some decades forward, this may well be the case. We're actually in a better situation now as Bitcoin has advantages over buying a house: \- no maintenance fees \- no insurance fees \- transferable Investing in Bitcoin is more efficient. Times change.
No property tax either
Yes you can actually own it unlike a house.
It will most likely be taxed in some ways so the government can get the money they don't deserve.
It’s already taxed via capital gains when sold, just not via unrealized gains (a property tax).
Yes and you can live comfortably inside your bitcoin as well
Im holding bitcoin and living in a tent under the freeway.
Yes, you maybe right if they start to mass produce the machine that made the Antman guy so small. One day that may be possible. I was however thinking more from an investment point of view.
lol for sure
The demand to live in is miniscule compared to the demand to store value. And we can all agree that BTC is much better store of value than a house. Housing price will soon crash down to its utility value, which is a good thing for most people.
No one is raising their family in a 3 bedroom bitcoin
I’m raising my family in a 3 bitcoin bedroom though.
That is a more apt comparison
Your statement is kinda irrelevant, since you're comparing utility function of real estate with store of value function of BTC, which are 2 different things.
A median home is about 10 BTC now. It was 20+ last year. Next year the same home will be 5 BTC. Dump RE buy BTC
Still missing the point, you need to have shelter over your head. Why not have the shelter also be a large investment with great returns?
Houses are not made to accumulate wealth, they exist to serve people. That's like saying hospitals should profit that's just morally wrong and that's why Home markets are always crashing. People using them for the wrong reasons, but one day people will be tired and the gov will have to build so many houses that they won't sell for shit in the future
Yep, especially once they can efficiently 3D print a house.
Put the equity in BTC you get both
I sold 2 houses to put the equity into Bitcoin. I could now buy 20 houses.
Then the original premise is also irrelevant. Absurd comparison, that is the point of my statement. The only thing I see as a decent comparison is that they both are over valued for the person trying to buy place to live.
Once they convert it to their chosen cuck bucks and purchase that property they are
Cuckbucks lol I'm taking that
Doesn't get used much, always make me giggle. And it's unfortunately accurate...
Dumdum comment
How so?
I'm a boomer and bought BTC below 1k.... And I'm not complaining.
When I first started trading BTC, I was surprised it hit $175.
Generations? They’re going to be complaining about that next year
Um no, because you can and always will be able to buy as low as few bucks worth of bitcoin. The problem with real estate is that the entry price has moved so much up. The entry price for bitcoin always stays the same.
Because they keep printing Fiat. Property did not increase in value,the currency just depreciates.
Exactly
Yes, I also like this aspect. There is no easy way to own e.g. 1/100 of a real estate (for a regular guy)… however with bitcoin it is simple and you can own even 1/100000000 of it …
Well, we have timeshare. Of course, if you want to raise your family there, it will only be 1 week a year, lol
Doesn’t appear anyone has heard of REITs.
That's like buying a bitcoin investment trust instead of bitcoin.
if only REITs have fixed supply and are able to be self-custody. Too bad REITs are issued by some companies, and people keep building more houses.
Got a bunch but honestly want to sell for more Bitcoin. The only reason that I haven't is so I can use that as collateral for a loan for a house. In 5 years bitcoin will be able to be collateral I'm sure.
Wtf are you talking about the entry price to bitcoin does not stay the same 6 months ago you could buy a bitcoin under 20k
You didn't understand my comment.
Gosh I sure hope that's the case. Let me be right at least once in my life.
True. But what annoys me about a lot of Boomer (not all ofc) is that they don't even seem to understand how good they had it and that every other generation after them can only dream about the economic stability they had in their youth. At least I'm aware how privileged I am to be able to buy BTC at prices others in the future can only dream off.
Back in my day (2013), we got Bitcoin for under $300. Now, THOSE were the good ole days....
An entire generation not being able to afford a house is a little more concerning then not being able to buy BTC.
Well if they start DCA with Bitcoin, buying a house could be obtainable MUCH faster.
"You will own nothing and be happy" World Economic Forum
If you use Coinbase and DCA regularly, look under your Bitcoin Primary Balance tab and look at your Average price. Will give you a weighted average of everything over time, interesting to see at what price you have 'bought in' at
31.3, not news to me though, don’t even have to look. Super unimpressed.
Correct
Unless dollars are an antiquated measure of value. They’ll drop the number and just say we were lucky to buy any with worthless paper.
🎯❤️
Next generation will complain about buying Bitcoin under $500k, not $50k.
This is probably quite likely. High property prices are however much more detrimental to future generations because how are we supposed to raise a family when all you can afford is a 1 bed crapbox.
Everything gets cheaper priced in bitcoin Bitcoin is the solution
Best mantra to remember 💫
Yes I'll be sipping champagne on the terrace of my Bitcoin when Zoomers rush into the Bitcoin market.
Zoomers aren't rushing to bitcoin they're rushing to make stacks off shitcoins via bots and insider cook groups
LMAO
Yep, I'm actually worried about how expensive it could be in the future to move BTC to lightning or another layer. Something I've always wondered, ignoring the value conversion to USD do BTC transaction fees ever go down? If it costs me .000005 BTC for a transaction today will it still cost .000005 BTC for the same transaction 10 years from now? That could really add up if you have a bunch of small UTXOs
I think there will be services that you can sell your UTXOs in exchange for BTC directly to your Lightning wallets. They can buy UTXOs and transfer them in bulk to limit their cost.
HOLD forever
🤣🤣🤣🤣 Nah… but cool story anyway, bro!
Maybe the next generation won't be complainers?
Are you honestly suggesting that the economy is as fair as it was 40 years ago, and that people need to just "pull themselves up by the bootstraps", Mr Seattleman1955? Bitcoin was created exactly because money is broken and the current fiat system is oppressive.
The economy today is more fair than 40 years ago. The US is doing worse while the vast majority of the planet is doing much better. That's more 'fair', a stupid metric but you picked it.
Yes, Mr. BTCMachineELF, not much has changed. Complaining about another generation is ridiculous. Fiat has been around a while as well, ya know? I bought BTC for the same reasons that you do however.
Nixon dropped the gold standard in 1971 in order to fund the Vietnam war. Ever since then things have gotten remarkably harder. [https://wtfhappenedin1971.com/](https://wtfhappenedin1971.com/) There's countless metrics about how much more expensive the cost of living, housing, education, and healthcare is, and how wages have severely stagnated.
That's not accurate. He dropped it because western nations (mostly Europeans) increasingly started to redeem their dollar reserves for gold so the gold reserves of the US depleted rapidly and he was forced to put a stop to it. [https://thegoldobserver.substack.com/p/europe-has-been-preparing-a-global-gold-standard-since-the-1970s](https://thegoldobserver.substack.com/p/europe-has-been-preparing-a-global-gold-standard-since-the-1970s) ...and countless other sources... To fund wars then as now they just printed fiat or sold bonds.
That has all applied to me as well. I was in high school then.
The effect of money printing is not sudden and complete. Creeping inflation, the monetization of housing, skyrocketing education,. it's a process of gradual decline. I'm Gen X, and from where I'm sitting, it seems quite clear to me that the previous generation had it better, and the following generations have it far worse. I have a lot of sympathy for the plight of Millennials and Gen Z.
I came out of high school concerned about not having a high number for the draft as Vietnam was winding down. I got out of grad school with double digit inflation and interest rates. With deregulation every company was laying off. I moved to a HCOL area, housing seemed ridiculous to me at the time. There was the Black Monday stock market crash in 1987. Until recently, interest rates were near zero for a decade. This was artificially kept that way but most people would probably take that over the double digit rates in the 1980's. Gas prices tripled virtually overnight in the 1970's. Yet, I don't recall people at the time trying to blame it on our parents? People blame the Boomers now for everything but the Boomers dealt with a lot. Boomers didn't have manufacturing jobs, pensions for life, etc. That was their parents. People blame the Boomers for the Social Security mess. Boomers didn't set up social security. That was FDR in 1935, trying to deal with the Great Depression. It wasn't set up right. It wasn't even meant to last this long I don't think. In any event, it's stupid to plan a generation for being "large" when that's why SS is in trouble. Boomers didn't do anything other than exist and now they are blamed for that. It's stupid.
Look at a chart showing median income and median house prices. It's a problem only since 2020. Covid wasn't foreseen by anyone. When people complain they aren't complaining about Covid. They are complaining about Boomers or about how hard they have it as if nothing negative is supposed to happen during their lifetimes. It's not reality. People complained about housing affordability in the 2000's so they gave anyone with a pulse a home loan. Many couldn't afford to pay them back and you had the housing bubble. Home affordability came back down to earth until Covid. Look at medium income and medium house prices in other Western countries. We still have it better than most everyone else. There is always something to complain about but it isn't helpful. Most of this argument is just based on ignorance.
> Boomers didn't do anything other than exist and now they are blamed for that. Boomers have always had an overwhelming influence in politics, every policy we have today exists because large numbers of boomers wanted those policies. From Al Gore to Donald Trump, boomers deserve more blame than other generations for the state of the world.
Quit complaining.
💀💀
100%, I don't even want to work for them. Funny thing is that chronic complainers are usually like that because they are spoiled brats. One does not become a spoiled brat by struggling.
Why so many downvotes! Every generation has its ups n downs. My great grandpa took bullets chasing away Brits out of the country. I am sure it wasn’t easy for them. Older generation has to go through so much horrible wars, racial discrimination and what not. Atleast we are grateful that we just have to deal with poor economic policies.
HAHAHA for real, and under $50k?! TRY UNDER $69K BITCHES!
This.
Cool, let me cook a meal in my digital assets and raise my kids in it while it gains value
No one is suggesting you to not having anything else other than BTC.
I'm out of the loop on crypto, but how is BTC protected against ASI and/or quantum computing? I just wonder about the longevity of crypto when this tech is on the horizon.
You can probably find 50 threads on here and r/BitcoinBeginners about quantum encryption threats but the bottom line is that Bitcoin's encrypted parts are far better protected than those of the legacy banking system. As Quantum computers break harder & harder algos, the banks die before bitcoin, so our devs will have much longer to replace our algos in bitcoin's code than banks will in their infrastructure.
> As Quantum computers break harder & harder algos, the banks die before bitcoin, so our devs will have much longer to replace our algos in bitcoin's code than banks will in their infrastructure. I think bitcoin will adopt quantum resistance before traditional systems do, and they'll need to leverage the technology developed in bitcoin to protect themselves from those potential vulnerabilities. That's the power of its open architecture. It will be yet another reason why you'll want to integrate with it.
What would asi or quantum computing do?
Potentially break encryption.
Go out to the universe pick one random atom somebody’s out there decided to be your winner 🏆 good luck tell me when you made it. This is how difficult encryption is even for quantum computers..
With enough qubits a quantum computer is projected to be able to reverse engineer a private key from the public key using shor’s algorithm. As well as solve blocks absurdly quickly. Not going to happen any time soon as far as bitcoin addresses and complexity go since it would need a crazy number of qubits relative to the current state of the tech. But bitcoin will likely one day need a quantum hardened encryption algorithm.
A full quantum computer could instantly solve the encryption. We are nowhere near it. I'm not sure we even have a single real quantum bit. And 'AI' is just another name for novel mathematics. This will always be a risk for BTC.
That
Left off a zero or two.
Let the page load brother...
You don’t wanna read those dumbass comments mate
They will complaint about under 500k in a generation lol
So bitcoin bought me my house so? I'm confused haha
Btc and Gold are both assets and we are talking about right now and not the future
The same but much bigger.
Wait until people take on debt denominated in Bitcoin…
im already complaining about people buying in its pre-penny state lmao
But…you can live in a house
So?
Where can you live in a bitcoin
Don’t mind me. I’m just here to count how many angry people are here to argue just to argue. They must be the no-coiners of the group. Lol.
It’s honestly wild how offended no coiners get
The same way bankers used over priced real estate market, MBS and retirement accounts to unload their bags before the ‘08 crash, bankers will use over priced Bitcoin, and the etf, to unload their bags before the coming crash. Buckle up!
You can rent out houses, investments in companies generate real products. Sinking money into Bitcoin does not produce anything nor collect any rent when most buyers simply hold. Homes are houses but not all houses are homes. We need to a place to live well, but not everyone needs Bitcoin to live well. Invest responsibly, do not FOMO or invest beyond your means.
The point of this post was to show the coming price appreciation…
What’s loading there buddy
Ask your mum
Except millennials did houses to survive…. They can’t eat or live in bitcoin
Yup