Why do all Bitcoin players say they make money?
It is true that many people make money. It is just that most people, including me, make only book wealth.
For example, if I have 10 bitcoins, each worth 60,000 yuan, then I have 600,000 yuan on my books. But this 600,000 yuan cannot be deposited in the bank, and it is not very convenient to use at this stage. There are also risks. If millions of people holding bitcoins sell them together, the price will immediately become 0. Unless I sell them immediately and cash them out, my bank deposits can only guarantee my basic food, clothing, housing and transportation, and I can't even afford meat. . . But if you ask me if I made money, I would say I did. I bought one at 10,000 yuan, how could I not make money?
The valuation of Bitcoin continues to rise, but not such a large proportion of cash has really entered the market. According to statistics, every dollar spent on buying Bitcoin in 2018 can push the total market value of Bitcoin up by 5 billion US dollars (total market value is now 1191.37 billion US dollars).
Just like the current real estate, everyone is at least a millionaire on paper, but if all investment property holders sell together (not counting the part of just-needed), it is really hard to estimate how much the housing price will fall.
Did people who invested in Bitcoin and those who invested in houses make money? They really did. Did anyone lose money? No one loses money unless the bubble is removed.
If Bitcoin itself has no intrinsic value, then the current price is all a bubble, and when the bubble is removed, it will quickly return to zero like the legendary tulip. If the US subprime mortgage crisis in 2008 occurs, then real estate will also explode one by one, causing the housing price to collapse, the book wealth will be wiped out, and the house will return to its true value.
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