Bloomberg: "Bitcoin Is A Teenage Store Of Value" \ stacker news ~bitcoin

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Bloomberg: "Bitcoin Is A Teenage Store Of Value"

742 sats \ 16 comments \ @siggy47 16 Dec bitcoin

When driving around in my car I listen to Bloomberg radio on AM sometimes. Today there was a lot of talk about bitcoin, of course, due to the microstrategy news. Tom Keene was his usual dismissive, arrogant self, asking, as if he had never heard of it before, "what's this bitcoin thing?", while chuckling. The digital asset analyst he was talking to (I think that's what he called himself) described bitcoin as "sort of like gold, but a teenage store of value. You know, it has only been around for like 15 years."

He then described how young people who are new to investing don't get excited about stocks and bonds, because they don't move fast enough in price to "keep the kids entertained."

This brought on more condescending chuckles.

I think it's good that bitcoin is still not being taken seriously.

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238 sats \ 0 replies \ @kepford 16 Dec

I think it's good that bitcoin is still not being taken seriously.

The longer these old (their thinking) clowns don't take it seriously the better.

88 sats \ 0 replies \ @rikbona 16 Dec

guess what, teenagers are sick of the world being destroyed by old financial dinosaurs, while they haven't been given the chance to make their own wealth!

we are early, very very early, at the point where almost only teenager are realising it!

63 sats \ 0 replies \ @grayruby 16 Dec

It's great. People are still trying to say it is worthless and has no utility and it is tulips.

63 sats \ 0 replies \ @IamSINGLE 17 Dec

"keep the kids entertained."

Actually they are partially correct, at least for me. I actually made my way to Bitcoin thinking to make gains and I'm too young but then SN came to my life and all my thinking changd. I'm a hodler now and I'll be until I can freely spend and earn in sats.

73 sats \ 0 replies \ @kepford 16 Dec

The analogy is so close but so far off.

Bitcoin is new. Imagine a new element was discovered and humanity was still trying to figure out what the heck to do with it. There were a few that got it. They would try to get as much as they could. The price of this asset would drastically shift as understanding changed. As greed came into play many scams would crop up. Slowly people would learn its true value and over time its value (collective) would increase and volatility would decrease. People would get it wrong and do stupid stuff. The market price would drop. Others would get it and make bold moves. The price would rise.

This is playing out before our eyes.

54 sats \ 2 replies \ @crrdlx 16 Dec

The teens that I've interacted with really don't know much about bitcoin. I did a very informal survey a few months ago. With the open-ended question "What is Satoshi Nakamoto famous for?" only 3.5% got it right. Then the multiple choice "Who started bitcoin?" only 41% picked out Satoshi from a choice of five names.

Details or survey at https://peakd.com/bitcoin/@crrdlx/are-you-in-the-three-and-a-half-percent SN convo: #710037

32 sats \ 1 reply \ @siggy47 OP 16 Dec

Thanks for the information and the link. Maybe you don't discover bitcoin until you try to support yourself.

There were twins in my daughter's high school, I think a year older than her, who supposedly hit it big in bitcoin in 2017 and bought themselves matching Teslas. I have my doubts. I know they drove the cars, but they might have just had parents who spoiled them.

43 sats \ 0 replies \ @SimpleStacker 16 Dec

The "teen" link is kinda interesting because most of the teens or near-teens I interact with primarily see bitcoin in terms of a "number go up, to the moon" mindset.

I don't think they have the life experience to appreciate what bitcoin actually means for financial sovereignty at a deeper level.

So, I guess if you commonly interact with teens or people with a teenage mindset, then your view of Bitcoin will be colored by that kind of mentality.

63 sats \ 1 reply \ @Satosora 16 Dec

Its interesting even though it has made 100k, people that are skeptical for the most part are still skeptical about it. I would think that if you were an "analyst", you would have at least researched it and figured out that it can not be inflated like fiat.

0 sats \ 0 replies \ @nichro 16 Dec

You would think if you were an analyst, with a minimal honest interest in your field, you would at least be humbly curious about it even if you don't understand it at first, especially when it's been declared dead hundreds of times and keeps sticking around and disrupting more and more of your field

53 sats \ 0 replies \ @nichro 16 Dec

Translation: " Bitcoin is like the TikTok of stocks for the whippersnappers"

43 sats \ 0 replies \ @stack_harder 17 Dec

it's no surprise that generation toktok loves fast moving price action, but in reality, most of them are actually shitcoining with btc being too boring

43 sats \ 0 replies \ @DesertDave 17 Dec

I agree. Just shows how early we still are.

43 sats \ 0 replies \ @ek 16 Dec

I consider myself quite lucky that I never got into stocks, so I used to think losing 80% of your investment within a few weeks was normal lol.