Depends when really, there have been a few periods of time where buying/mining bitcoin turned out to be a pretty lucrative for anyone involved at the time. I mined some on my laptop about 15 years ago and ended up buying some steam games with it a few years later. Multiply that up to people who actually invested seriously, they made several times their investment.
NFTs? Basically all were scams and no one was ever going to make money apart from the scammer.
(Also nobody take this to mean BTC is a good investment today, if you’re buying it today expecting exponential growth and not to potentially lose your investment entirely, you’re being very silly)
Bitcoin operates the same as NFTs. Similar to an NFT, a bitcoin alone doesn’t have any value on it’s own. Someone made lots of money both on NFTs and bitcoin by selling it to someone else for more money than they paid for it.
Worth is based on what people will pay for it, and tons of people are buying it high because they think it’s an investment. I’m just curious how long until people become bag holders.
Depends when really, there have been a few periods of time where buying/mining bitcoin turned out to be a pretty lucrative for anyone involved at the time. I mined some on my laptop about 15 years ago and ended up buying some steam games with it a few years later. Multiply that up to people who actually invested seriously, they made several times their investment.
NFTs? Basically all were scams and no one was ever going to make money apart from the scammer.
(Also nobody take this to mean BTC is a good investment today, if you’re buying it today expecting exponential growth and not to potentially lose your investment entirely, you’re being very silly)
Bitcoin operates the same as NFTs. Similar to an NFT, a bitcoin alone doesn’t have any value on it’s own. Someone made lots of money both on NFTs and bitcoin by selling it to someone else for more money than they paid for it.
It’s really no different.
I thought it was worth way less than the current price most of the time?
Worth is based on what people will pay for it, and tons of people are buying it high because they think it’s an investment. I’m just curious how long until people become bag holders.