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off the chain 2 minutes reading from Bitcoin

Is $BTC Still Undervalued?

So BTC obviously isnt a “store of value,” and its not an “inflation hedge” so what is it? In my opinion, its just a new way of communicating. Its just communicating a record of transactions, nothing more nothing less.

Of course, we have placed value on its limited supply etc, but when value is shriveling up everywhere, it only makes sense the liquidity goes elsewhere. Theres too much invested in fist back currencies for this to take off in the next 30 years. If you ask me

All the “diamond hands” people wont hold that long. MOST wanted it as a get rich quick scheme. Truly the only winners in the BTC lifespan so far are the people who originally pioneered the tech and nested it away. Anyone who bought pre 2017 run up really. Everyone else = loser

The “utility” of blockchain networks still hasnt changed since the beginning.

1) immutable and decentralized 2) ease of transfer in ownership 3) secure record keeping

Thats literally it. That being said, i think we value the above ALOT, especially in the business world

Which is why I still think crypto, not naming one coin, is still undervalued. What we really value are the qualitative aspects of the tech, not its place as a financial instrument nor its market cap. Im trying to draw a disntiction between the MC value and the less tangible value

Last thing, hur dur theres a limited amount of BTC so it’s inherently a hedge. If i have millions of BTC, but no one wants to buy, its worth -0-. Thus, its COMPLETELY dependent on global economic conditions, and as those weaken, so too will the “value”

TLDR: need to consider intrinsic (unknown) value of BTC, and extrinsic (always known IE: market cap) as two very separate and distinct thing and invest accordingly. I know I said a whole lotta nothing but feel like 95% of crypto doesnt get this

This post is based on this twitter thread.

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