Is Bitcoin a treasure?

[Potuse]

The answer is emphatic because bitcoin is a treasure and it is what could make you very rich overnight if you are very lucky. This could be possible through the high level of volatility of Bitcoin . It could reach and surpass the previous all-time are over a night.

 

[Nomad]

Bitcoin is a treasure. The most appropriate word to describe bitcoin is it is a digital asset. Even though the primary use of bitcoin is to be used as a payment form for fast transactions and cheaper fees, compared to traditional finance, over the years it has evolved as a digital asset that should be invested and hodl

 

[Heatman]

Well, I believe that someone can actually regard Bitcoin as a treasure and it is something that can actually fly because of that financial value of what bitcoin holds.

It's something that is very valuable to the extent that it can make someone become a millionaire depending on how you invested in it.

 

[Grant]

I can see it be a treasure to some because it could one day be worth a lot. But the fact that the price could also drop as fast, doesn't make it a treasure to me. When I think treasure I think valuable and never losing that value. But with Bitcoin I don't think of value all the time, because it's such a volatile currency. So in that sense, I don't see it as treasure.

 

[Heatman]

I can see it be a treasure to some because it could one day be worth a lot. But the fact that the price could also drop as fast, doesn't make it a treasure to me. When I think treasure I think valuable and never losing that value. But with Bitcoin I don't think of value all the time, because it's such a volatile currency. So in that sense, I don't see it as treasure.

Yeah, that's very correct. Bitcoin can only be seen as a treasure when it is been profitable to those who invested in it. When someone's investment is making him lose a lot of money, I don't think there is a way you can convince that person that such investment is a treasure.

 

[Riberet19]

Well, it depends on how you look at the asset, if you see it from the perspective of an investor who knows its fundamentals well, you can come to see it as a treasure, for example, its scarcity and its control in issuance can be an aspect by which it can be seen as a treasure for many if we compare it with fiduciary currency which does not stop being issued and devalued.

 

[Heatman]

Well, it depends on how you look at the asset, if you see it from the perspective of an investor who knows its fundamentals well, you can come to see it as a treasure, for example, its scarcity and its control in issuance can be an aspect by which it can be seen as a treasure for many if we compare it with fiduciary currency which does not stop being issued and devalued.

Yeah, that's very correct. Also, when you are looking at it from this aspect, you should also put into consideration the possibility of whatever you invested in Bitcoin being able to drop in value as a result of the volatility of the cryptocurrency. So, it is a treasure that has a two-way end.

 

[Nomad]

Since you profit by investing, trading, and mining bitcoin, it is certainly a treasure. Treasure means something that gives you value, especially the valuer associated with money and wealth. Bitcoin certainly gives you value.

 

[Riberet19]

Yeah, that's very correct. Also, when you are looking at it from this aspect, you should also put into consideration the possibility of whatever you invested in Bitcoin being able to drop in value as a result of the volatility of the cryptocurrency. So, it is a treasure that has a two-way end.

That's what investments are all about, they can go well or badly, it all depends on how much you trust Bitcoin and how well you study it are what determine your possible final results in said investment, look at the price it is today, and all the prices so low it has been, Bitcoin has left many winners along the way and also many losers since its conception back in 2009.

 

[Nomad]

That's what investments are all about, they can go well or badly, it all depends on how much you trust Bitcoin and how well you study it are what determine your possible final results in said investment, look at the price it is today, and all the prices so low it has been, Bitcoin has left many winners along the way and also many losers since its conception back in 2009.

Practically speaking, you do not lose your investment with bitcoin unless you sold it for the loss price. let's say you bought for $30K and sold when it went down to $29k, you will be making a loss. However,. if you continue to hold your coin, and not sell it until the price is higher than your purchase price, you will make profits. If you understand this basic theory, you will never make a loss

 

[Riberet19]

Practically speaking, you do not lose your investment with bitcoin unless you sold it for the loss price. let's say you bought for $30K and sold when it went down to $29k, you will be making a loss. However,. if you continue to hold your coin, and not sell it until the price is higher than your purchase price, you will make profits. If you understand this basic theory, you will never make a loss

That's true, even more so if you've used money that you won't need in a long time and you can have it parked in any asset, in this case, Bitcoin, if you have the right mindset regarding investments in general, you won't have to worry.

 

[Nomad]

If you want to profit from your bitcoin and other crypto assets, you also need the financial capabilities to hold for a longer time. if you come across any financial difficulties and have to sell your assets when the market is down, you will be at a great loss.