10 things recently learnt about bitcoin.
Heard James, Jake and Jeff on bitcoin.
1. Bitcoin is a replacement of gold instead of currency.
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2. Bitcoin is truly decentralized i.e. no one person holds 80-90% of total circulation.
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3. Bitcoin is limited whereas printing money is unlimited, with each print/year bitcoin is going to increase just like any other asset.
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4. Bitcoin started it's journey from 0.0001$ in 2010 and now it is present at $20k. That's valuable.
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5. Base of bitcoin is satoshis. Smallest unit of measurement is sat. 1bitcoin = 1million sat.
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6. Fiat currency incentivizes spending whereas bitcoin being asset incentivizes saving.
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7. US printing more currency increases inflation in countries which hoards dollar as reserved currency. Smaller countries could shift to bitcoin as reserved currency.
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8. Bitcoin could act as base for valuing CBDCs.
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9. Only 5% crypto assets would succeed and have value more than Amazon, rest 95% are going to fail.
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10. Michael saylor declaring his selling price for bitcoin. Now, market moves in a direction to give max pain to maximum no of people. all the times. With market law, bitcoin could further go lower to $16000.
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