Not all wealthy people don’t like to invest in Bitcoin. There are still some giant whales in the Bitcoin market. They have invested in a lot of Bitcoin, such as MicroStrategy and Tesla. There are also companies that seem to resist Bitcoin. In fact, they bought a lot. Goldman Sachs tried to sing empty bitcoins before, but instead bought a lot of bitcoins. I think that many millionaires among them may be considering the high volatility of Bitcoin, the risk is not controllable, or they may not understand encryption technology very well. After all, everyone has a different background and ability to accept new things. , But they have realized the freedom of wealth, so there is no need to take risks.

Gold played a good role in storing value in an era when technology was not so advanced, but in the current environment, Bitcoin is better than gold in playing a stored value function. Bitcoin's transportation and transaction costs, storage costs, cross-border transportation convenience, delivery time, certification, and expropriation risks are better than gold. In addition to the seemingly obvious competition between Bitcoin and gold, there is also complementarity. Gold that has been deeply integrated into human life is unlikely to go far. Cryptocurrency may just provide people with new choices, but in the long run, Bitcoin The ceiling and potential are higher than gold.

I think its value comes from three characteristics: 1. Scarcity is obvious. There are 21 million in total.2. Storeability. The prerequisite for Bitcoin's existence is electronic equipment. If one day all electronic devices in the world are paralyzed, then even Bitcoin will die. Therefore, from this point of view, Bitcoin has a storage risk. But this possibility is very low, because it means that all mankind has returned to primitive society. And this probability is considered low enough to be negligible, so in fact, it can be considered that Bitcoin also has good storability.3. Ease of circulation. Bitcoin is better than gold. Any Bitcoin can be divided indefinitely and it is very easy to trade.

A pessimist would say that what you're describing could be the precursors of classic addiction or compulsive behavior. A quick self check will tell you if you're falling into a pattern of chasing the next dopamine fix. If left unchecked, it can get unhealthy real quick. Two obvious indicators would be withdrawing from your normal social patterns and rationalization.

That said, what you're feeling is most likely just the normal exuberance experienced by those who fall into a new and exciting hobby. If you're like most people, it will become part of your normal routine and the all consuming, single mindedness of it will taper off.

Regardless, don't forget to take some time to enjoy life. Remember, the only thing more valuable than crypto is time.

For ordinary people, Bitcoin and blockchain may not be so easy to understand, so they will think this is a scam, a tulip bubble, I think this is very inappropriate, most of this is because of Bitcoin People who lose money with currency, or people who lose money because of other altcoins. On the one hand, he lacks knowledge of Bitcoin, and he has no basic self-judgment on investment. Once he sees someone making money from a certain token, he will rush into the market, and he will eventually fail miserably.

It will not disappear. For some people, Bitcoin is speculation; for some people, Bitcoin is an investment opportunity; for some people, Bitcoin is a great social experiment; for some people, Bitcoin is faith.

This isn't specially wrong, but its just speculation, there is no real way to tell if BTC will reach those values, the one thing that we do not know is if other technologies will make BTC obsolete. The tech behind BTC was already outdated when it launched, aside from the ledger/blockchain innovation the code itself was already dated and now is a dinosaur. Chances of new tech making it obsolete and the price stop rising are greater than most people expect.

I also heard some Chinese bank announced ban the trading currency, but doing so Banks around the world to see still less, even so, we can also trade through the P2P, and now there are some countries are already using COINS, perhaps in the future we don't have to consider change them into yuan can use, I would like to see a situation where I can trade directly with Bitcoin.

I'd imagine there would always be a market regardless. If someone has some they'll inevitably want to sell and someone would inevitably want to buy.

I think of it like those rare Ferraris or Mercedes that there was only a finite quantity of - sure those cars go for millions of dollars, but there is still a market of buyers and sellers for them.

The answer is something called expectation, an investing term.If the probability of a coin going up is higher than the probability of the coin going down (you have to make your own assessment), then it has a positive expectation, and even if risky, you will win in the long run.

After the adoption of Bitcoin by El Salvador, a congressional representative from Paraguay announces a bill that would allow this country to follow suit, but also to encourage mining (with renewable energy sources).
https://swacash.com/2021/06/23/after-el-salvador-will-paraguay-also-adopt-bitcoin/

Its both good and bad news :
The good - Bitcoin mining becomes much more decentralized as they are shipping those ASICs all around the world and to independent companies
While most mining in China was done with Green hydro , a subset was using dirty coal and those new mines elsewhere will have a 95% chance of being all green powered due to economic and efficiency reasons
The Bad- Short term it means that miners are likely selling most of their BTC on hand suppressing price due to being cash strapped due to having to temporarily shut down their miners and invest in new land/warehouses in other countries. (They are both selling their ASICs to 3rd parties and moving some of their private operations)

I very much agree with the op’s point of view. Although China hinders Bitcoin from various means such as mining and trading, we can also see that many mining farms have gradually moved to other countries, which just diversifies China’s computing power, which is for other countries. It is a good thing, and under such severe measures, Bitcoin is still above $4,000, indicating that the impact on Bitcoin is not that big. I believe that after these, Bitcoin will slowly rise, and it is still in a bull market.

the previous bull run crashed after a golden cross and recovered after a dead cross.
why would anyone listen to this TA bullshit if it tells you to sell after the crash has already happened?

If anything at least hope the exchange she’s using is Binance.

Just tell her if she doesn’t intend on selling soon or if she doesn’t use yieldfarm, its way better to have funds on a hardware wallet instead.

Rise and fall is the norm in the market. Whether it is a bubble or not has yet to be considered. After all, Bitcoin assets have begun to be accepted by some countries, but it is clear that no matter how much Bitcoin falls, its price will eventually rise.

if bitcoin does become a global currency between the world. how would things like loans, renting ourt apartments work? what if somebody doesnt pay back what he’s owed , can they aftually track to verify that he has not paid?

I think it is impossible for Bitcoin to predict accurately. There is no golden rule. It is better to believe in yourself than to believe in other people’s predictions, because this time it was completely sudden and was affected by external factors. I want to fully judge whether it is rising or falling. It is unrealistic, so I suggest that you hold Bitcoin is the best, because from the general trend, it has been rising, and it is effective as a long-term store of value.

What is really the value of anything? Btc is not always measured in USD value, once upon a time 10,000 btc was worth 2 large pizzas, once, 3 btc were worth 25,000 business cards for me.

At present, China only bans mining, and does not directly ban bitcoin transactions. It is reported that some mines have only been closed for rectification and have not been shut down directly. I think the blow to bitcoin this time has little effect on the price of bitcoin. A big impact, I think this big drop is also a fluctuation within the normal range. Bitcoin may plummet, but it will not collapse due to the suppression of certain countries, but will break out again after it has plummeted to a certain level.