Post
Topic
Board Bitcoin Discussion
Re: Bitcoin is like a losing lottery ticket
by
Fortify
on 13/09/2021, 20:07:36 UTC
https://youtu.be/52DuIE1-tJY

The linked video explains the difference between traditional financial instruments and bitcoin. Traditional are redeemable, while bitcoin is not. Which makes bitcoin equivalent to a losing lottery ticket. Or, similar to a stock of a bankrupt company, a currency of a former county or a casino token of a bankrupt casino.

Just from your poor grasp of how Bitcoin works, it is definitely not even worth checking out the video. Bitcoin at it's heart is a currency, it is a currency whereby one unit is currently worth around 50,000 dollars when converted via an exchange or peer to peer transaction. You might not like that fact, there may not be much logic behind why so many people put such a high value on this particular currency, but it is the present reality that we live in. As we see with El Salvador, who have made it legal tender (AKA redeemable) what you have said is untrue and the pace is going against you every day. It feels like you either sold out too early or are just jealous that you missed out on the huge gains it has made since inception.