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Notes -
I actually somewhat like bitcoin in the long term as a store of value. It is the first mover in terms of creating artificial scarcity, and has surprisingly few weaknesses in terms of preserving that scarcity. Contrast that to something like gold where changes in mining output or industrial demand can impose external price pressures outside of the supply/demand for a safe haven.
That being said, I think the rest of crypto is arguably the largest bubble in human history. I don't see any real value provided by the chains that try to act as both a platform and as a currency. And i expect that at some point those will all come crashing down. And when this happens, I expect that bitcoin will take a major hit. I doubt it will be a lethal blow, but I could easily see a >50% loss happening. That's a lot of risk if you are trying to preserve value.
Yes, btc and "crypto" are pretty different things. Btc is legit. 99,99% of crypto is worthless scammy trash.
People don't so much go via btc into crypto anymore like they were forced to do in 2017. If lots of shitcoins disappear, btc could easily survive and maybe even thrive more, with a larger proportion of the money finding its way to btc instead.
You seem to be confusing volatility with risk btw. There's no danger in a 50% downturn as long as it doesn't last for more than a few years. Obviously, if you're old/close to retirement, don't go heavy in risk assets. But that goes for the stock market too.
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