If a no-coiner friend or relative asked you this question, how would you answer?

It is worth bearing in mind that so far this year, the Bitcoin price (trading around $16,430 as of 8:50 a.m. UTC on 25 November 2022), which reached its all-time high of around $69,044 on 10 November 2022, is down roughly 65% in the year-to-date period.

Source: TradingView



On Thursday (22 November 2022), pseudonymous crypto market commentator “Satoshi Stacker” (@StackerSatoshi) asked his over 177K Twitter followers how they would answer this question if their dad, for example, asked this question at the Thanksgiving dinner:

Here are a few of the best replies:

  • Because energy is more scarce than Bitcoin.
  • It didn’t. 1 bitcoin still equals 1 bitcoin. It has lost some popularity, but it’s more decentralized, secure, immutable, censorship resistant, & scarce than ever before. Are you going to base the value of something by what it actually is, or only by its popularity?
  • If a 50” TV price drops 75% on Black Friday what do you do? There’s a difference between price and value. If you understand the value of Bitcoin (think of prime real estate that no one can take from you) you’ll realise that this is the greatest opportunity you’ve ever seen.
  • Lucid -80% Snap -79% Shopify -77% Doordash -69% Meta -67% Credit Suisse -61% Zoom -60% Paypal -57% Draft Kings -57% Black and Decker -57% I could go on and on ….

Image Credit

Featured Image via Pixabay

Posted in

American Crypto Association Exclusives!

Bookmark the site and sign up for relevant alerts, trading tips, masternode updates and important news hosted within our exclusive newsletter. Valued at $3,588, we are offering this service free for one year!

Get onboard now!

Exclusive Newsletter!

Sign up for exclusive trading tips, masternode updates and important news hosted within our newsletter!
!
!
Terms and Conditions checkbox is required.
Something went wrong. Please check your entries and try again.
Translate »
Scroll to Top