Quote from: galambo on December 05, 2021, 03:18:05 PM

Quote from: Upgrade00 on December 05, 2021, 12:50:02 PM

However, regardless of how promising bitcoin is and how high its value can get, we should also consider the risks involved and how bitcoin as a currency cannot survive alone without alternative currencies (fiat). And storing all your funds in bitcoin is not feasible as it is not universally accepted and transactions are not instant.

That's very unfortunate but true. Btc still need fiat i.e. usd for measuring its value. We still say 1 btc is 50k usd. Btc is very much popular in its community but its adoption at mass level is still very slow. Gold is old and matured market as compared to crypto or any other trading market, thats why it has more investment. Crypto is progressing but its a long journey.

Totally agree. Bitcoin is having a massive impact and creating a huge ripple in the financial filed but we still rely on fiat for this growth. Because of this we can't yet truly decouple Bitcoin from fiat but the way things are going, at least gold is no longer the go-to commodity and asset to hedge against inflation - Bitcoin is!

While the journey in terms of wider adoption barely begun, it may be safe to say just like the tile of this post, that holding for the long-term might be the best passive investment one can possibly make. So in a market like today, we may think of acquiring BTC at a discount