Home Bitcoin News Bitcoin (BTC) is Not a Business and it Can’t Earn Profit

Bitcoin (BTC) is Not a Business and it Can’t Earn Profit

Bitcoin (BTC) is Not a Business and it Can’t Earn Profit

Peter Schiff shared: First Bitcoin as a currency, then it was a non-correlated asset, after that it became digital gold, and now it’s a high-beta tech stock. Except Bitcoin is nothing like a tech stock as it’s not a business and can’t earn a profit. Each time Bitcoin fails its pumpers reinvent it.

Community Response:  There isn’t a single real Bitcoiner that is calling it a high-beta tech stock.

That is likely true, but on the margin, the real Bitcoiners don’t set the price. The marginal Bitcoin buyers who drove the price up to 69K dollars do that. And those are the ones being told it’s a tech stock to rationalize the decline and keep them on board. It won’t work.

Peter how long do you think the Fed is going to let the market carnage continue before it turns dovish and we see a recovery in Bitcoin.

Do tech stocks earn profits?  Now many don’t buy they are being bought supposedly because they will earn profits in the future.

“Earn profits in the future” is a key takeaway from what you just said… think about that for a second. Future as in, years? Wonder where BTC will be in a couple of years.

So, tech stock buyers are looking to earn profits in the future. That is identical in comparison to buying bitcoin and waiting for it appreciates. Although you can’t get interested in your tech stocks. But you can get it for your Bitcoin.

What difference does a little interest make when your ‘asset’ just dropped 50% in value in a couple of months??

People making this argument are assuming that the people they direct it at bought the top.  A 50% drop is nothing if you are up thousands of percent.

He’s the type of guy to make a prediction, be certain that it’s going to play out, and invest accordingly. You don’t have to like it, you don’t have to follow his investments. But you have to respect that.

He knows what he’s talking about and his investment goals are probably a lot different from yours. You don’t have the understanding to judge his investment strategies. In the long run, he’s going to be right, and he seems to think it’ll be sooner rather than later.

His thesis of a dollar crisis and the economic decline of the US – yeah. It’s already starting to happen. Look at the US economy and power standing relative to other countries as we become more progressive and socialist as a result of the easy life brought about by capitalism.

Yeah, but you cannot put all crypto in one basket man. Great working projects with real use-case out and working. The only wrong thing market follows BTC.

You are %100 right and that is what I don’t understand. Why whole cryptocurrency market following bitcoin.

It’s worth 30k. anyone who invested in it, unless you are dumb and sold the dips or just got into it, is up. Your arguments are always so bad. I bought SOL for 7 dollars. It’s worth 80, in a year where you’re clamming, is been disastrous for crypto. how can you deny that?

It will go down further and you’ll boast about it. Then as usual it’ll rally up and you’ll ignore it… It’s ok that’s how you make a living.

I’m wondering how #gold #silver #diamond or any other metal or stone earns profit by itself? And if I have 100kg gold how can sell it? and it’s possible to take it with me when I cross the country border? who will help me to carry that? Oh, I need to pay every time I use them.

10 years later people are still wondering what bitcoin is – is it a commodity or a currency or a stock? they don’t even know what it is but always call it the future of mankind.

It’s so true. And with every reinvention, we get new buzzwords like “network effects”. The network is having an interesting effect ATM.

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Julie J

Julie is a renowned crypto journalist with a passion for uncovering the latest trends in blockchain and cryptocurrency. With over a decade of experience, she has become a trusted voice in the industry, providing insightful analysis and in-depth reporting on groundbreaking developments. Julie's work has been featured in leading publications, solidifying her reputation as a leading expert in the field.

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