
Bitcoin Crushes $9,000 on Growing Signs of Mainstream Adoption - romanhn
https://cointelegraph.com/news/bitcoin-crushes-9000-on-growing-signs-of-mainstream-adoption-wall-street-interest-
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kown223
if you have 9k dollars and you don't need to spend it on something, and you
want to save, what are your options, keep it cash, will only loose its value
(maybe less in US but in other countries yes with 7% inflation), you would pay
bank fees, and the money would do nothing, buy gold, is complicated, you need
to make a contract, again pay fees to hold it for you, buy real estate, is to
little money, buy stocks, is complicated, which stock, 90% of countries don't
even have a stock market, invest it in a business, again.. you don't have
time, is complicated, which business etc., art/wine/collectives, to little
money, you need to store it, research, etc,

So tell me which is a better investment/store of value 9k money, at this
moment?, without needing weeks of research and paperwork and fees, etc.

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randomfinn
What country are you in?

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haakon
It didn't exactly "crush" $9,000. It just nervously touched it, and then fled
back.

CoinTelegraph is generally garbage.

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paulpauper
yeah not exactly an impartial source

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steeve
Serious question: why would one buy Bitcoin except for holding on to it? That
seems like a very unhealthy reason imho...

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scotty79
I'd take pay in bitcoin as payment for work anytime over last 5 years because
of stupidly high cost of international money transfers. Unfortunately nobody
wanted to pay me like that because apparently it was harder for accounting.

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steeve
Would you have spent it?

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scotty79
If I didn't have money and I needed it then definitely.

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ufo
> Thought many mainstream finance pundits regard Bitcoin as a bubble, the
> market has not shown any signs of a so-called “blow off top," meaning a
> sudden and major reversal is unlikely at the moment.

It is hard to take an article seriously when it is built on top of
pseudoscience from Investopedia

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scotty79
All "knowledge" about investment in speculative instruments is pseudoscience.
You can see it when you compare hedge funds with index funds like Warren
Buffet did.

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votepaunchy
And yet Warren Buffett consistently beats the market.

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scotty79
Yes. Because he is Warrent Buffet. He does that not because he reads the
market but because he drives the market.

He, at no fault of his own, is same thing for stocks as penny stock scammers
are for penny stock market.

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mdotk
"Growing Signs of Mainstream Adoption" LOL

Bitcoin is unusable for any transactions and has been for some time. That's
why the shillers are calling it a "store of value" now.

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noway421
At this point, apart from investor's demand, what bitcoin is backed by? Did
those numerous ICOs actually help to make the market cap sustainable?

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scotty79
Bitcoin is backed by same thing art is: scarcity, durability, transferability.
Anything with these qualities will appreciate in value as wealth of
civilisation grows.

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notahacker
Penny stocks are also scarce, durable and transferable...

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TrickyRick
Penny stocks are generally not scarce (You can buy a lot of them) not durable
(Companies tend to go bankrupt). Gold would be a better analogy.

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notahacker
People can't create new types of gold by taking an open source coin and
forking it...

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TrickyRick
Gold is only analogous to Bitcoin (or any one specific crypto), not the entire
phenomenon. People can create new companies and list their stock but that in
itself has no impact on stock prices.

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paulpauper
bitcoin is nice because, unlike paypal, you don't get locked out have have to
verify your phone and email and shit like that. as long as you have the
private keys, you can spend anywhere

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TrickyRick
Also unlike PayPal a transaction takes a few hours instead of a few seconds.
Wait, that's not a good thing...

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ionwake
It is instantaneous depending on which platform you are using. Maybe you
should bother looking into it.

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TrickyRick
Platform? Bitcoin is bitcoin, either you use a different crypto (in which case
we're no longer talking about bitcoin) or you're using some fluff on top (in
which case we're also no longer talking about bitcoin). Have a look at this
graph to understand why bitcoin doesn't work as transactional currency
[https://blockchain.info/charts/avg-confirmation-
time](https://blockchain.info/charts/avg-confirmation-time)

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kown223
I think he meant how many confirmations they want, 0 confirmations is instant,
also unlike paypal you won't get charge-backed.

