Apple has a net profit for 2016: 45687 million dollars (with the cap of 800B $).
Just think, what size of profit should give a crypto with the size of capitalization 160B $, and you will understand what is undervalued, and what is overrated))). IMO, we are in the bubble and stage of mania.
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I'm just comparing those for fun. Of course a currency doesn't have profit. But you have to remember as the blocks get harder to mine, it takes more work/energy to mine. As of today, the cost of mining is about 1000$. So BTC can't be worth less than that. It has all ready established itself as a store of value. People have decided that.
You can say the same about gold. What is the profit of gold? Is gold in a bubble and stage of mania?
But you recommend HODL, for the fan or for earning?))
Mining is work for the sake of work, from it there is no practical benefit for humanity!
I agree with this, but we must understand that the technology is not time-tested, and we can not be sure that the blockchain can last for decades (it is constantly growing in size, and this process is accelerating along with the growth of popularity).
Gold has a practical application in the industry and is used for jewelry. The monetary function is only one of the three main functions. No decent Indian woman will not go to dinner without hanging a kilogram of gold jewelry))
No, of course, it is practically stable in price right now.
Jewlery has no practical benefit for humanity..Perhaps for some sort mating ritualistic things. But so will Bitcoin. Once it get's more popular, you'll attract shitloads of girls with your Bitcoin Hodler bumper sticker or t-shirt ;) Just buy the "I got rich on BTC" t-shirt. Much cheaper than jewlery.
And gold is not that much used in industry, not compared to other metals - like Silver.
I recmond hodl because Bitcoin, sustainable, destroyed or abandoned has a very good chance of reaching unpresedented levels.. 100k + I also recomend you gradually sell off your initial investment. But hodl the profit. If everything is great success! we never have to convert our btc to fiat.
To be honest, I think the only reason people buy cryptocurrency is to earn money on growth. Most people also understand that this is a financial pyramid, so at every corner they shout about it, so that new people come in. Those who already sit in the cryptos, need new customers to maintain price growth.
I think all this will end badly.