This is a cult and a bubble

Hi,

This message is mainly aimed at young people and people who are impressionable and who are caught up in the echo chamber that is this sub.

Do not put all your money in bitcoin, unless you are absolutely ok with making a bet that you fully understand the potential consequences of. These posts encouraging young kids to just buy buy buy with all they have and one day they'll be rich are just fucking crazy and irresponsible. Because let us be clear : it is a GAMBLE; and nothing more. It is not a sure fire thing that line goes up. Bitcoin could be ended for a variety of reasons : legal rulings, something better comes along, adoption does not continue to increase/tails off etc. I personally do not ever see crypto replacing fiat currencies.

The idea peddled here that bitcoin is the only way that you can save money and protect your assets from inflation is ridiculous. There are many many asset classes that do an excellent job of just that. People who aren't interested in crypto aren't just leaving all their money in a current account and having it eaten away by inflation; they're investing in stocks, in real estate, bonds, assets that they might have a passion for themselves (art, classic cars, watches) etc. All these asset classes do an excellent job of outperforming inflation if they are managed well. You would do well to keep a diversified portfolio and not YOLO everything into crypto.

If you are just discovering the world of investing/personal finance then I recommend you check out some other personal finance subs with a more general theme because r/bitcoin is not a source of unbiased and sound information.

I have a small amount of crypto relative to the rest of my portfolio and it is certainly an interesting and fun thing to own, but it is not the be all and end all