If Bitcoin Crashes Below $10,000 It’s All Over—Here’s Why
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There are plenty of valid arguments for why Bitcoin might fail, but absolutely none of them mean Bitcoin is a bad investment
No-coiners love to talk about Bitcoin tail risks as a reason not to invest:
"Governments might try to shut it down"
"What if a new coin is the Facebook and Bitcoin is the MySpace"
It is both true that these are valid arguments for why Bitcoin might fail AND that Bitcoin is an incredible investment. Every single asset has tail risks. The government can ban gold ownership. Tesla might be cooking their books. Apple's HQ might get destroyed by a comet. All possible but low probability events. The point that no-coiners are missing is that as long as the risk/reward trade-off is favorable, who gives a shit about tail risks. Bitcoin has an extremely favorable risk-adjusted return profile. tldr: anyone who references tail risks as a reason not to invest in Bitcoin does not truly understand investing.
Bitcoin is a cryptocurrency created in 2009. Marketplaces called “bitcoin exchanges” allow people to buy or sell bitcoins using different currencies. Why does bitcoin have any value at all? This is the objection that has tripped up some of my personal investing heroes, like Jack Bogle and Warren Buffett. Buffett summarized the concern in an ... Not only does it commemorate the day the block was generated but puts into perspective why Bitcoin was created. Bitcoins are not issued by governments. The amount of bitcoins in circulation grows ... Why Use Bitcoin? Aug 20, 2013 at 20:59 UTC. Sep 4, 2020 at 17:14 UTC. Satoshi Nakamoto originally created Bitcoin as an alternative, decentralized payment method. Unlike international bank ... Bitcoin has declined sharply this week, losing over 5% in under 24 hours and causing traders to nervously eye the psychological $10,000 per bitcoin level. The bitcoin price lost $1,000 in a matter ...
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