Post
Topic
Board Speculation
Re: Don't rely on Venture capital money - these guys don't know what they're doing
by
NotHatinJustTrollin
on 24/01/2015, 16:56:38 UTC

Nobody answered my question tho.

Why should the average Joe buy bitcoin? For what purposes?

Back when Bitcoin was in the low single digits, I argued that the average Joe who could afford to might pick some Bitcoin as a long-shot bet just in case because the pay-off, in the relatively unlikely event that there was one, could be large.

Also for the reasons of reward size, that the actual amount of BTC need not be very large in order to make things pay off in a moderate to good scenario.

At $1000, we were approaching what I considered the 'moderate win' scenario.  I took some profits and re-balanced my portfolio there which was in-line with the plan I made when I was buying.

Different times now.  I'd not make any suggestions at this point.  Personally I would still probably make a modest bet today if I had a strong desire to diversify.


That is still "speculative reasons".

The average Joe wants something that is useful, that has a purpose, if the only purpose is "I will get more dollars when I will be able to sell it higher" (IF it goes higher), that is not gonna work to bring "world adoption" to bitcoin.

As I explained, there really isn't any point for the average joe to actually use bitcoin as a currency or as a store of value, aside from illicit activities.
The only real reason seems to be musical-chairs speculation as an end in itself, and that is not exactly something the average joe might know how to do profitably or be interested in in the first place.