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Apr 14, 2021
12:57:46pm
Shore10 Truly Addicted User
It's based on the mistrust of fiat currencies that are inflated for politics.
It's likely not going anywhere until the govt intervenes. Bitcoin is particularly vulnerable because it can't be replaced if it's lost. The scarcity also makes it highly valuable. It could be a great hedge.

I had a co-worker many years ago that had about 22,000 bitcoins he'd mined for years. He was a very savvy guy but also a bit sketchy. He was telling me that they would be worth tons later. I was intrigued until he explained that they were all lost in the Mt.Gox hack. None of that even made sense to me. After I heard they could be hacked and there was no insurance I saw a vulnerability and decided to not bother. Once enough bitcoins are lost or destroyed, i think people will abandon it for something like ethereum that is more mature.

I also know so little about it so take that with a grain of salt.
This message has been modified
Originally posted on Apr 14, 2021 at 12:57:46pm
Message modified by Shore10 on Apr 14, 2021 at 12:58:14pm
Shore10
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Shore10
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