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6/19/2025, 10:06:10 AM
>>507949835
>it's just people FOMOing and buying when it has no utility i think it's a house of cards.
I think it makes sense as a hedge against economic collapse in the same way that gold and silver do; but it has advantages and disadvantages that precious metals don't.
Its big advantage is that its easier to sell than gold or silver and it has no physical presence so you don't need to carry it around.
Its big disadvantage is that it has no physical presence so access to it relies on an internet connection and some form of international market system to trade it.
So your Bitcoin is going to be a good hedge against your country's currency collapsing since other country's will still be able to buy Bitcoin and have demand for it even if your country goes to shit. But its not a good hedge against the whole global economy shitting the bed in the way that gold and silver are because it needs a global market system to exchange it and provide demand for it. For that same reason its probably not a good hedge against the US dollar collapsing since its currently the global reserve currency although if that changed then Bitcoin could be a good hedge against the US dollar.
I think as a tool of diversification it makes sense. Have stocks, have bonds, have bitcoin, have gold and silver, have property, have guns ammo and canned goods and have your own source of water and a place to grow potatoes. Don't rely on anything and don't put all your eggs in the same basket.
>it's just people FOMOing and buying when it has no utility i think it's a house of cards.
I think it makes sense as a hedge against economic collapse in the same way that gold and silver do; but it has advantages and disadvantages that precious metals don't.
Its big advantage is that its easier to sell than gold or silver and it has no physical presence so you don't need to carry it around.
Its big disadvantage is that it has no physical presence so access to it relies on an internet connection and some form of international market system to trade it.
So your Bitcoin is going to be a good hedge against your country's currency collapsing since other country's will still be able to buy Bitcoin and have demand for it even if your country goes to shit. But its not a good hedge against the whole global economy shitting the bed in the way that gold and silver are because it needs a global market system to exchange it and provide demand for it. For that same reason its probably not a good hedge against the US dollar collapsing since its currently the global reserve currency although if that changed then Bitcoin could be a good hedge against the US dollar.
I think as a tool of diversification it makes sense. Have stocks, have bonds, have bitcoin, have gold and silver, have property, have guns ammo and canned goods and have your own source of water and a place to grow potatoes. Don't rely on anything and don't put all your eggs in the same basket.
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