Post
Topic
Board Economics
Re: Is Bitcoin for “Fake Rich”?
by
Findingnemo
on 16/12/2020, 17:37:11 UTC
Honestly "fake rich" has been a thing before crypto as well, it could be part of it nowadays but that doesn't mean there was a problem with fake-rich people after crypto neither, nor there is a problem with crypto.

So, I would have to say just like how tesla wasn't made to look like you are rich, it was build because it was electric and it would be a lot more helpful for the world instead of using basically oil in the end, so all I can say is the fact that people are looking at bitcoin differently and they could promote how "rich" they are with it if they want to, but when they fail to actually spend that kind of money, it will turn out that they are not rich at all and their whole ruse will come to an end, don't know how long they can continue with it but they totally can.
Bitcoin millionaire can liquidate all of their money and can spend it whereas the stock investor can't really do that because meanwhile doing the prices will actually going to fell down which is also possible in bitcoin but more likely to happen when a billionaire by stock market investor is doing it.

Bitcoin is actual currency and also can be considered as an asset which is more convenient to use so its actually going to be a part of every billionaire's portfolio in the near future.