[2020-06-05] Bitcoin Has Been the Best Currency Investment for Over 1,200 Years

Karartma1

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Quote from: stompix on June 10, 2020, 11:59:05 AM

Quote

The first widely accepted commercial transaction was on May 22, 2010. Laszlo Hanyecz bought two pizzas for 10,000 BTC in an event that has since been immortalized as Bitcoin Pizza Day. With the pizzas worth about $30, this puts a value of around $0.003 on one BTC at this point.

Yeah, Cointelegraph strikes again.
The first transaction was 7 months earlier when Sirius sold 5050 for 5$ , making it $0.001.

That aside it's stupid to compare something that had no value at first with something that was born with value, how much has gold gone up in value if we consider the strat point the time when cavemen were throwing rocks full of it at each other?

Those were the days! 5 dollars for 5050 precious coins.
Joking aside, I get your point and I agree but the press needs to talk their bla bla bla. And remember that the average Joe only remembers the association between Bitcoin -> Coca Cola

stompix

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Blackjack.fun

Quote

The first widely accepted commercial transaction was on May 22, 2010. Laszlo Hanyecz bought two pizzas for 10,000 BTC in an event that has since been immortalized as Bitcoin Pizza Day. With the pizzas worth about $30, this puts a value of around $0.003 on one BTC at this point.

Yeah, Cointelegraph strikes again.
The first transaction was 7 months earlier when Sirius sold 5050 for 5$ , making it $0.001.

That aside it's stupid to compare something that had no value at first with something that was born with value, how much has gold gone up in value if we consider the strat point the time when cavemen were throwing rocks full gold of it at each other?

hugeblack

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The comparison does not seem logical, so this technology is still new and it is wrong to compare it with the current dollar models or to estimate their value since their first price.
Do not forget that the price may return to levels of $ 100 or rise to levels of $ 50,000 and therefore all statistics may be wrong.
the currency depends on supply and demand, and therefore there are currencies that have appreciated higher than bitcoin at one point due to the high demand for them.

Also, satoshi should be considered as the currency, not a whole bitcoin.

cr1776

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It would be interesting to see/know if 1200 years from now that will still be the case.

Perhaps Hal Finney will be able to find out the answer - https://www.alcor.org/blog/hal-finney-becomes-alcors-128th-patient/

kjlimo

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I don't think "currencies" are meant to be investments, kid of a catch 22 situation here, eh?

So can it be the best if it's the best?

Karartma1

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Although not designed as an investment vehicle, Bitcoin’s rise in value has made it the best currency investment you could have made in the last 1,200 years.
Bitcoin (BTC)’s value appreciation over the past 11 years sets it apart from virtually all of the world’s fiat currencies.
Central banks around the globe continue to churn out money, deliberately devaluing existing currency through inflation. They have also had a lot longer than Bitcoin’s 11 years for the effects to accumulate. So how do major fiat currencies compare to Bitcoin?

Read more here https://cointelegraph.com/news/bitcoin-has-been-the-best-currency-investment-for-over-1-200-years

Topic: [2020-06-05] Bitcoin Has Been the Best Currency Investment for Over 1,200 Years (Read 481 times)