By the time you die Bitcoin will be worth god knows what. Historically speaking, Bitcoin is the greatest investment vehicle ever created though, nothing comes close. A $1,000 investment in bitcoin in 2010 say at $0.08 a coin would’ve netted you roughly $500,000,000 today and much more at its peak. Crazy stuff
It was an amazing asset to speculate a few years ago, but it'll only hold value for as long as people agree it has.
Unlike other crypto, it's completely useless as a day-day currency and its algorithm makes it very prone to manipulation -- at least more than any of the other big cryptos.
Tbh I don't see Bitcoin as a long-term investment and neither should you. It has an expiration date, it's just a matter of when not if.
At this point it’s simply an investment vehicle with the allure of stellar returns. Highly speculative like you mentioned, but that’s what traders love. They need volatile markets in order to profit off of the difference in price.
It’s tough to say whether or not Bitcoin will wither away into a worthless asset. Many large investment firms are starting to expose themselves to this risk in the hopes of higher returns for their investors. Will this influx of institutional money prop up the price for the next few years? It remains to be seen but it’s definitely something to consider.
By no means is investing everything in crypto assets a wise choice. No investment vehicle is as robust (in my opinion) as the S&P 500 etf (SPY).
By the time I die, Bitcoin will have faded into irrelevancy, having been outmatched several times by other get-rich-quick schemes, all of them providing ample investment opportunities, but none of them providing any use.
Despite being touted as a revolutionary currency, people overwhelmingly only trade Bitcoin to speculate on its value. Nobody cares what Bitcoin does; they only care about what Bitcoin is worth. To some extent this applies to all speculated investments, but even gold, stocks, fine art, and Beanie Babies have some utility, where as Bitcoin largely does away with pretending.
If you regularly use Bitcoin for buying groceries or something, then that puts you in the minority. But also, traditional currency would probably have been better suited to the job due to better ubiquity, stability, and regulation.
But even putting all this aside, it’s worth asking whether the high ecological and human cost of cryptocurrency justifies the novelty of making purchases with it. Traditional currency has a social cost too of course, but per-transaction it’s negligible in comparison to Bitcoin’s.
Tl;dr: it isn’t worth burning acres of rainforest for the novelty of buying pizza with Beanie Baby Bucks.
I was nearing a hundred thousand D: most from commenting too!
Edit: since people keep telling me, I have gotten my karma back, it seems that whatever caused it to disappear has been fixed for everyone. Thank you for telling me it’s back, greatly appreciated (_)
So back in the day the Karma worked different... and it was hard to get 100,000 upvotes on comments or posts... but if you did you joined the "Century Club".
It was actually a really cool sub... all the orignal gif makers from like 2012 before people knew how to make gifs would teach us... fuck I was paying for adobe creative cloud and participating...
people like editing and layout, Matt0S... unidan (he didn't make gifs, but studied crows and had good observations about anything), etc..
The actual upvotes and downvotes were not real then... Even if you got 2 million upvotes it would settle around 2,100 upvotes or so...
True, but the impact that votes have on karma has always been different from the score of posts/comments and I don't believe they changed that algorithm when they switched to "real" vote counts.
You mean back when they were gifs and not mp4s wrapped in a webm container…
I remember the first time someone posted a webm and people were up in arms as to if it should be considered a gif or not. And then highqualutygifs was born.
I was in century club with my previous account 3-4 years ago. Most of the comments and posts were made by the same 30-40 users. It was an incredibly boring sub.
Almost all the users were Americans and they either lived in big cities or suburbs. I couldn't relate to most of the things they talked about there.
Idk how it changed but it became a lot easier to get upvotes. One thing they did was allow some subs to hide upvotes for a while after a comment is made which does seem to stop the hivemind somewhat, if your comment got downvoted early then people would pile on.
Wow, that's sound cool! Are there any such subreddits of place where people like that hang out still? I have back ground in classical art, a degree in the contemporary form and work with film & television for children. So I'm constantly neck deep in creative processes. I'm not complaining, truly. It's just hard to find other people that are caught in this maelstrom, and I'm getting a little tired of having adjust myself around others so I seem more relatable. Otherwise it becomes rather lonely, rather quickly. There are other approaches certainly, though they're also demanding and counteract the purpose of R&R. Not to disregard them entirely, I'm just trying to scan the horizon in the meantime. Cheers!
Lol thanks, I just like talking in these random conversations, it ends up adding up, but every once in a while I wake up to 45 comments and a 6.6k karma comment xD.
I guess it was a glitch that caused the number displayed to be 0, just another testament to how potato the servers of this website and the people running it are
Edit: It’s just a weird visual bug. If you actually look at your profile karma and then go back to the overview it updates to the total amount, but only remains while you don’t load anything new. Now it only shows post karma I guess?
7.9k
u/[deleted] Aug 15 '21 edited Aug 15 '21
Wait what
Edit: I used to have like 13,000 karma but now it's 675
Edit 2: Guys stop mentioning that I got my karma back you can mention other things. I gotten 123 notifications overnight because of this.
And bragging about keeping your karma is maybe the problem is resolved. I like getting a comment popular but please have mercy.