Re: Lets think Bitcoin as an investment not payment system, is this right?
Bobby Lee co-founder and former CEO of China's first crypto exchange BTCC says the Chinese have always thought of Bitcoin as an investment rather than a payment system.
Lee made his remarks during an interview for Charlie Shrems Untold Stories podcast on Sept. 18.
https://cointelegraph.com/news/bobby-lee-chinese-always-saw-bitcoin-as-investment-not-for-payments
- In accordance to what Bobby Lee said, it is indeed that China thought of bitcoin as an investment.
This might be the reason why China was one of the biggest percentage average of having a bitcoin mining farm.
all over the world, What's your view about this thought?
Lee made his remarks during an interview for Charlie Shrems Untold Stories podcast on Sept. 18.
https://cointelegraph.com/news/bobby-lee-chinese-always-saw-bitcoin-as-investment-not-for-payments
- In accordance to what Bobby Lee said, it is indeed that China thought of bitcoin as an investment.
This might be the reason why China was one of the biggest percentage average of having a bitcoin mining farm.
all over the world, What's your view about this thought?
It's worldwide and not just a Chinese thing. Except few countries like Japan, Germany etc. where bitcoin is not officially legal, people use it as an investment only and not as a currency! So it's wrong to generalize only China for such mindset and this mindset is known as FOMO or "Fear of missing out"!
Bitcoin has shown immense growth since its inception which no other investment class had shown in last 10 years! Yes, real estate had fetched such return in some cases or in some specific areas but not at a global scale! So it makes complete sense for people to use it as an investment and not as a currency.
We all know about what happened on 22 May, 2010 as we celebrate it as "Bitcoin Pizza Day"! Mr. Laszlo Hanyecz paid 10,000 Bitcoins to order few pizzas from Papa Zones which is worth 100 million at current bitcoin price! This fellow could have lived a life of a millionaire in 2019 if he had not purchased those pizzas in 2010. It is a classic example why FOMO plays a big role in the mindset of a bitcoin user, and it makes sense!