Quote from: ginsan on October 05, 2023, 09:28:36 PM

Although some of them think that Bitcoin is too expensive, it is a stupid mistake that they have thought. I had a chance to chat with several people where I live discussing Bitcoin investment. But they firmly said that Bitcoin was too expensive for us and we were no longer very interested in Bitcoin investment. I explained in detail but they still answered like that. Can any of you provide stronger encouragement for me to convey to them that Bitcoin investment is the best investment at the moment and does not measure the price because Bitcoin supply is limited. Maybe I'll wait for your explanation.

However, I still adhere to my stance that I will continue to accumulate Bitcoin at every stage because I don't really care about empty talk from out there. Because we will take advantage at some point in the future for what we have done in investing in Bitcoin. They are stupid not to learn and even more stupid not to invest in Bitcoin.

You gotta be careful trying to spend too much time trying to persuade others to buy bitcoin when they do not understand and/or appreciate bitcoin's investment case irrespective of what you are doing yourself and what you are telling them. In their minds, they believe that you are the crazy one.

I frequently tell people that everyone should get at least a little bit of bitcoin and even start out with a small amount, and even if I know them well enough to know that they could easily afford $100 per week, I will tell them that $10 per week is better than nothing, even though they should be spending $100 per week.. but whatever, they have to do what they want or what they believe is right for their own situation. And, sometimes, I will also suggest that even though it is good to get started with some kind of bitcoin buying routine and even to commit to 4-10 years, I don't really give any shits about what they do .. it is their choice. I will tell them that they probably will end up buying bitcoin later, but it is likely going to be at a higher price.. but whatever, at this time they believe that it is not going to help them, even though it is a great hedge against a lot of the injustices in the world in regards to the governmental abuses of power in connection to the money printer and the ongoing degrading of the money, which they cannot do to bitcoin and bitcoin will benefit from the government's ongoing desperation to print money and their irresponsibility.. and bitcoin does not do those kinds of things.

You can also ask them questions about their own investments, but also that might not help and frequently people do not like to talk too much about their financial details, but sometimes if you can frame the question in delicate ways in which you are not necessarily asking specifics, then at least you might have some ideas about what they invest into, if anything.. or if they are just struggling and they hardly have any extra cashflow, even if they do seem to go on elaborate vacations a couple times a year... and of course, those are choices that people make.. in regards to how much they are spending and if they could end up saving/investing more than they do.

Quote from: Sayeds56 on Today at 12:45:15 AM

Quote from: JayJuanGee on October 05, 2023, 03:23:35 PM

[edited out]

I completely agree with your observation that choice of historical data can significantly impact the assessment of Bitcoin's correlation with other assets, as different time frames can yield varying results. In this context, I might be mistaken but I think the time frame from 2015 to 2021 holds particular significance, as during this period Bitcoin became well known through the media and prominent financial companies like MicroStrategy invested in it, which led its value skyrocketing.

While I could be wrong; it seems that the ongoing unfair advantage of Bitcoin over other asset classes is a significant factor that makes it an attractive investment today. this trend is likely to continue until Bitcoin reaches a more substantial market cap, perhaps $5 trillion or more, which would contribute to its stability as an asset and reduce volatility.

I still believe that you are underestimating bitcoin's power, and bitcoin already reached more than $1 trillion market cap last cycle, which was around $55k.. so if bitcoin gets to around $280k, then it will be a $5 trillion market cap.. and about 1/2 of gold's market cap.. so many folks already know that bitcoin is better than gold and the fact of the matter is that bitcoin is likely 1,000x or more better than gold, but I doubt that gold is going to completely lose its market cap, so there could be a variety of ways that bitcoin reaches some of its fair market value by getting to be 1,000x the price (market cap) of gold, yet it could happen in 20-50 years or maybe it will take longer, even 150-200 years to get to that kind of relative pricing.

Anyhow back to my assertion that bitcoin is not a mature asset class or a mature value, and in that regard, you are underestimating bitcoin if you are merely considering that it will go up 10x from here and then stabilize, when ONLY about 1% of the world's population is actually invested into bitcoin at this time, and perhaps even those who are invested into bitcoin do not even realize the extent to which they are underinvested into bitcoin, so bitcoin is still a very immature market and there are still a lot more people to come into bitcoin, and network effects and even metacalfe principles are going to continue to justify that BTC values (and prices) continue to go up exponentially with the playing out of those kinds of networking effects and metacalfe principles.