Wednesday, 23 December 2020

You know how rich people buy up property and let it sit vacant? Bitcoin fixes that.

Cash is trash.

Everyone is struggling to find places to store and diversify their wealth.

Extremely rich people understand this better than anyone. That's part of why they're rich. But they're struggling like everyone else is to find where to put the money to keep it out of cash. Beyond owning things like stocks and bonds, which carry risk, they also put money in other things like property, rare art, gold, etc, which inflate the valuation of those assets beyond anything reasonable. It doesn't even necessarily have to beat inflation, just dull it down.

This is part of why we see lots of real estate getting bought up above asking price with cash and sitting vacant or lightly used. Earning income as a rental or serving as a residence isn't the point. Storing and diversifying wealth is.

Bitcoin fixes this because it's the only store of value that can absorb infinite amounts of excess value without being subject to debasement. Gold can't do this. Land can't do this. Rare art can't do this.

Only bitcoin.

hodl

submitted by /u/consideranon
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Bitcoin is an independent fact-checking system for money, operated globally by computers and humans with perfectly aligned incentives to keep the money records honest. What’s not to like about that?

submitted by /u/the420chronicler
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History Lesson (Dec 2017): Trading goes down at Coinbase, one of the biggest bitcoin marketplaces, for two hours amid price plunge. The interruption in service comes as bitcoin briefly tumbled below $11,000, down 44 percent from its record high hit Sunday.

History Lesson (Dec 2017): Trading goes down at Coinbase, one of the biggest bitcoin marketplaces, for two hours amid price plunge. The interruption in service comes as bitcoin briefly tumbled below $11,000, down 44 percent from its record high hit Sunday. submitted by /u/Egon_1
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source https://www.reddit.com/r/btc/comments/kijg5c/history_lesson_dec_2017_trading_goes_down_at/

Scaramucci's Hedge Fund Buys $25 Million of Bitcoin, Cites Michael Saylor as Influence

Scaramucci's Hedge Fund Buys $25 Million of Bitcoin, Cites Michael Saylor as Influence submitted by /u/WocketMan0351
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I saw this post three years ago and it changed my life. 'FIVE THOUSAND DOLLARS for some weirdo internet money? HOW?!' So I educated myself and I know now that we are still early even three years later.

I saw this post three years ago and it changed my life. 'FIVE THOUSAND DOLLARS for some weirdo internet money? HOW?!' So I educated myself and I know now that we are still early even three years later. submitted by /u/ScumWithBoundaries
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Square's Cash App Will Now Let Users Get Cashbacks In Bitcoin

Square's Cash App Will Now Let Users Get Cashbacks In Bitcoin submitted by /u/TacticalWolves
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FinCEN wants to force exchanges to keep records on all transactions to and from self-hosted wallets over $3k, and auto-report all transactions over $10k to FinCEN. We only have till Jan 4th to make a public comment. Tell FinCEN to stop this sneak-attack on cryptocurrencies and privacy rights.

FinCEN wants to force exchanges to keep records on all transactions to and from self-hosted wallets over $3k, and auto-report all transactions over $10k to FinCEN. We only have till Jan 4th to make a public comment. Tell FinCEN to stop this sneak-attack on cryptocurrencies and privacy rights. submitted by /u/fightforthefuture
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