As the parent poster mentioned, the US’ monetary policy is awful and many believe is on the brink of major problems.
China’s financial reporting is untrustworthy- you never know what you’re getting investing there.
EU is in the middle of brexit, financial crisis in member nations.
So, yeah, some new alternative financial instrument seems attractive to me.
Ah yes, "the brink of major problems". That's the undying adage of USSR and later Russian news programs. "Dollar is on the brink of collapse".
> So, yeah, some new alternative financial instrument seems attractive to me.
How can one forget, that these crises are unique, are happening for the first time ever, d no one in the history in the world ever had 10 million dollars before, so they have no idea what to do with this money.
As you mentioned in another reply- diversification of ones’ portfolio is important. I, and most people, would never put all their money into BTC or crypto in general. That would clearly be a bad decision. But, why _shouldn’t_ I put <10% of my portfolio in a new asset class that has growth potential? Many people put 10% of their portfolio into all kinds of crazy things.
The USSR existed during multiple global conflicts. The USSR existed during the oil crisis in the 70s. Russia existed during multiple global conflicts. Russia existed through multiple global economic crises including the one in 2008.
And through it all the fall f the US dollar was just around the corner. Within weeks. Well, months at most.
In 1998 I was an exchange student in the US. I read an editorial in some newspaper like The NY Timesthat argued that financial crisis that would kill the dollar was inevitable within at most two-three years. And yet, here we are.
So no, I don't buy "you sould put money in bitcoin because of course USD is going to deflate and is on the brink of major problems." as an argument for storing 10 million dollars in Bitcoin.
On top of that this entire argument ignores the actual reality of how people protected their assets before Bitcoin. Let me show you how: https://dataroma.com/m/holdings.php?m=BRK
https://hn.algolia.com/?dateRange=all&page=0&prefix=true&sor...
I would appreciate if you called me by the nickname I specifically chose for the purpose of online communication
> Dimas, I already clearly listed the problems with those investments, in case you didn't understand, I will repeat:
In case yo didn't understand, I will repeat:
- If a person has a spare 10 million dollars they want to "park", it most likely means they already know how to manage their own money
- Ask yourself: how did people manage to "park" their 10 million dollars in the ancient era of 10 years ago, before blockchain.
> Diversified portfolios - oh, I guess you are. Next you are going to say "Index funds" - what do I win?
You win exactly nothing. Diversified portfolios is the way to "park" money: "don't put all your eggs in one basket" and all that.
It's not a dilemma. At all. If you have 10 million dollars just lying around, chances are, uo already know what to do with your money.
So your entire premise is based on a combination of assumptions that make it entirely laughable:
- that if you have 10 million dollars, you have a problem with storing them
- that in order to defend bitcoin you have to come up with an example involving no less than 10 million dollars
> Do you buy gold? Gold is useless. Buy stocks? How do you pick them? Of course USD is going to deflate.
Ah, I feel so sad for people who have 10 million dollars which they have to just "park". How did they ever manage to do that in the past?
Oh, right. Stocks, property, securities, bonds, investments, diversified portfolios.