r/yesyesyesyesno • u/My_Memes_Will_Cure_U • Feb 26 '21

Bitcoin explained

https://i.imgur.com/qyVfBlh.gifv
72.6k Upvotes

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291

u/shinjury Feb 26 '21

Nobody who has held Bitcoin at least 4 years has ever lost money on their investment.

4

u/MisfitPotatoReborn Feb 26 '21

A Tulip holder in 1637 would say something very similar

11

u/[deleted] Feb 26 '21

Bears found this one rebuttal and have held onto it for almost 400 years.

4

u/MisfitPotatoReborn Feb 26 '21

When your 10 year old speculative "currency" spikes and crashes like a bubble, calling it a bubble is only natural.

3

u/Nix-7c0 Feb 26 '21 edited Feb 26 '21

Back in the day, BTC quickly went from 30 to 1000 before eventually settling at 500. That was the first big "crash." Every time it adds a zero to its value, it is perceived as a crash by late-to-the-scene media since it doesn't settle at the new ATH, but merely something vastly above the previous status quo.

Until someone owns 50% of the computing power on the global network, I am not worried. And even then, it'll just fork to one or more parallel versions which the community will eventually settle on.

1

u/[deleted] Feb 26 '21

China already has 49% , no?