Is Bitcoin a Shitcoin?

Is Bitcoin a Shitcoin?

By TwoDogsCaged | TwoDogsCaged | 7 Nov 2022


To be honest, NO. In my opinion simply because of it's limited number.  It has name recognition and that counts.

However, as I had written a few weeks ago, I don't necessarily get Bitcoin. I have been reading more about it and still find it fascinating. I mean, it was just created by some guy!!! Just boom, there it is. 

I love the limited quantity as it's main selling point, and I love the idea of a decentralized currency. I love the idea of it, I just don't see the value. That is what scares me the most about it. Despite my judgment, I believe it will continue to rise in value, and it will and is a solid long term investment. This right here is the crux of the issue with me. Can I justify investing in something that provide little? I would not pay USD to buy USD. Why would I do the same for Bitcoin?

Also, it is fascinating to me that so many people who love Bitcoin ignore it's harmful impact on the world for it's use of energy.  Why do we ignore this?

I can see investing in other cryptocurrency for their clear value and what they offer. I have identified some of those in other posts.  I do not know what I am talking about from a financial perspective, I am approaching this from a psychological perspective. It does not add up.

I am going to continue to read about it so maybe I can understand it better. I received some feedback on my last post about Bitcoin that was helpful.  

I am willing to listen and learn.

 

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TwoDogsCaged
TwoDogsCaged

Cryptocurrency is a fascinating idea, one that has many confused, scared and dismissive of the concept. However, it also is intriguing and likely a large part of the future.

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