Re:The Bitcoin Apocalypse Is Coming in Mid-November
by Fjolsvith on Monday October 09, 2017 @09:12AM
(#15433470)
What if you owned a US dollar (an actual dollar bill)? That gives you an actual fractional ownership of what? An American government? No. You have a currency, a store of value that can be used to pay a debt.
Owning a BTC is the same as owning a dollar, functionally. The main difference is that dollars, on the whole, tend to lose value, and that BTC tends to gain.
I own 1 share of a SP500 ETF. That gives me an actual fractional ownership of Apple. That gives me an actual cut of the dividends of real american companies. It has an actual meaning of what you own.
What does 1 BTC give you? What is the fundamental purpose of a BTC?
Tulips went up in price too, but they were not a very smart investments. Tulip chases do not win in the long term.