See ... Back then we thought that it would be replacing cash. Some friends and I were thinking about having wallets in smart cards (technically possible) and distributing BTC terminals to local businesses.
The whole crazy investment thing came much later and basically destroyed any hope of using BTC on a daily basis.
If you bought $10 USD of it "at the time", you'd have a giant pile of USD. Who is stupid in that lack of purchase?
Point is a lot of things are stupid and turn out to work really well. USD is backed by a computer at the Federal Reserve. Sounds pretty stupid but it works.
Hindsight is 20/20 ... I bought my BTC at 0.20€ ... Sold most of it at 20€, the rest at 200€.
I could have been rich ... but how should I have known.
Re:SETI@home Is in Hibernation
by RobotToaster on Monday March 20, 2023 @07:42AM
(#35230144)
Oh, I definitely feel stupid for underestimating human stupidity.
>USD is backed by a computer at the Federal Reserve. Sounds pretty stupid but it works.
Pretty much why I think it's stupid as an investment, it's no better than the USD if SHTF. You can't hold it like gold or silver.
You're right that it's not meant for SHTF. It's for holding value under normal circumstances instead of passively investing in whatever other bubbles (stocks etc).
Btw, not very many people are putting their money into gold and silver. Returns on that have been lackluster for decades. If BTC truly became "digital gold," I wouldn't be very interested.
I still think it's a dumb idea, but I've learnt not to underestimate human stupidity.