So today one of my buddies sold all his BTC. Just goes to show how quickly the herd mentality can take over.
Personally I still see cryptos as the future. I can already see the counter argument coming, “it’s a Ponzi scheme”. While it’s obvious that the earliest investors made a lot of money, this is true of any investment. Those who get in early make the most money.
The other argument is that “btc has no value”. I disagree, btc offers people a mechanism to store value outside of currencies that are hyperinflated and subject to the consequences of high government debt.
“It won’t scale and the fees are high”...the internet was once extremely slow, but over time it had inevitably scaled. Technology moves at a rapid rate...think about the phone you used 10 years ago as opposed to today.
Point is I’m still a believer in cryptos as the future currency in a world that is heading towards access and automation. Open to hear the other side and how stupid I am.
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