Calling Bitcoin a fad is intellectually equivalent to calling Internet a fad in 1999. If you're short on Bitcoin today, it is financially a worse decision than being short on Amazon or Microsoft in 1999. Bitcoin represents the most asymmetric financial bet in the history of human civilization. It is a perfect hedge against all kinds of looming geopolitical and economic crisis. By 2040s, Bitcoin will be larger than the value created/accredited to the Internet in 2040s. Yes, you read that correct. Bitcoin will be closing in on ~$100 trillion market cap (current prices) by 2040s.
Smeet Bhatt What a really silly comment! What if Bitcoin was the next really really big thing like Segway, which was the 'future' of personal transport? Just because someone says X looks like Y does not mean that X IS Y Bitcoin is a bubble, or rather a series of diminishing bubbles and bubbles have happened throughout financial history https://www.linkedin.com/pulse/bitcoin-bubble-sure-patrick-mcconnell/?trackingId=OucnqzrETsGfwYdBErWs%2BQ%3D%3D
Bob Guzman
1mo
Aside from theoretical predictions: do you have any data that demonstrably shows that Bitcoin is the "perfect hedge" against all geopolitical & economical crises. If not, then imo, just let people invest in what they would like without the lectures as to how they are making the "biggest mistake" of all time. This is a market, there will be buyers and sellers.
In your opinion will BTC still be as volatile as it is today no matter the market cap?
John Robert
1mo
The problem with this is that Uncle Sam cannot stand competition, so this game of musical chairs will end at some point. If you think the USG will allow this to exist alongside CBDCs, you are sadly mistaken. Sure, some will make money, but most will be left holding a bag of ether.
Bitcoin is a Russian organized crime business information product, just as YC is a front for laundering Russian oil money. They won’t be around much longer.
Anwar Abdulhaqq
1mo
Fad.
Ben Ketel
1mo
Well I guess the debasement of the dollar is going to be worse than imaginable. I thought a Venti drip at Starbucks would be $30 by 2040, but I guess it is going to be over $300. Good to know, thanks!
Sangram Raje
1mo
Smeet Bhatt I'm curious about the choice to start the chart for Bitcoin from 2014 (and not 2009). Why is that?
Olaf Sacher
1mo
But it is a bet. As you said.
Co-Founder, Theya (YC) | Bitcoin is inevitable
1moTo all the skeptics on this thread, wish you good luck betting against Larry Fink and BlackRock who admittedly went from being a "proud Bitcoin skeptic" to a full-time promoter of it in under 5 years ✊ https://www.linkedin.com/posts/smeetbhatt_its-hard-to-overstate-the-significance-of-activity-7218680343027990529-bXjP