Re: Is the instrinsic value of Bitcoin as an insurance policy?

Quote from: mk4 on Today at 03:35:54 AM

When people say that Bitcoin is digital gold, they don't actually mean it in a way that you can use Bitcoin for jewelry and for whatever industrial use gold has. They mean it in more in a economic/finance perspective, where people buy gold as an economic hedge.

And yes, what you've listed is what's mostly Bitcoin is "promoted" for. Chamath Palihapitiya, a Bitcoin whale and a famous investor, even called Bitcoin "schmuck insurance".

Quote

“It’s the single best hedge against the traditional financial infrastructure,” Palihapitiya said in an interview Tuesday with CNBC’s Squawk Box. “Whether you support the fiscal and monetary policy or not, it doesn’t matter. This is the schmuck insurance you have under your mattress.”

“Just buy the coins. It’s a fantastic instrument,” he added.

source: https://www.cnbc.com/2019/07/09/social-capitals-palihapitiya-says-bitcoin-is-schmuck-insurance-you-have-under-your-mattress.html

As for telling people to buy Bitcoin, I personally really don't like telling people what to do with their money(mostly in person), but you do you mate.

agree in some point bitcoin could be compare to gold due to the fact that both gold and bitcoin are an asset and has a good value over a period of time. However, bitcoin is different and unique compared to gold because its market is being dictated by the bitcoiners. So, whatever bitcoiners do to bitcoin like holding it for keeping then high chances that bitcoin market will be doing bullish or bitcoin will beocme expensive and it will be the opposite if bitcoiners will going to sell ther bitcoin.