this post was submitted on 10 Jun 2024
209 points (94.5% liked)
Asklemmy
42502 readers
1454 users here now
A loosely moderated place to ask open-ended questions
If your post meets the following criteria, it's welcome here!
- Open-ended question
- Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
- Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
- Not ad nauseam inducing: please make sure it is a question that would be new to most members
- An actual topic of discussion
Looking for support?
Looking for a community?
- Lemmyverse: community search
- sub.rehab: maps old subreddits to fediverse options, marks official as such
- [email protected]: a community for finding communities
~Icon~ ~by~ ~@Double_[email protected]~
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Downvote me all you want but I'd buy $15 of Bitcoin then wait a few years. So far I have been immensely happy with every single one of my BTC purchases and I don't think that's going to change any time soon. Whatever amount I buy now will be the same % of the total supply (21 million coins) in 5 or 10 years time which is more than I can say about pretty much anything else.
Bitcoin isn’t destined to go up because supply is theoretically set. Demand could easily disappear and there could be a massive sell-off that puts more supply out there. It’s easy to imagine BTC mining being banned in a major country because it’s incompatible with carbon emission goals, raises electricity bills, puts pressure of electricity grids, facilitates money laundering, or any number of things. That would trigger a sell-off and unless some whale is capable of being the unofficial central bank, there’s nothing to stop it.
He meant available supply, not total supply.
I got scared and sold lol :(