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Bitcoin is too expensive.”

  • no there’s 100m sats in one Bitcoin, you can get 1000s of sats for one dollar
  • You don’t “need” a whole Bitcoin

There’s not enough Bitcoin for the entire world.

  • Since Bitcoin has a fixed supply of 21 million, every single person in the whole world will never be able to have one if we divided the population by 21 million
  • Not even all 46 millionaires in the world will be able to own 1 single Bitcoin 
  • You’re earlier than they are. Beat them to the game. You’re gonna be richer than they could ever imagine 

 What is Bitcoin? (For boomers)

  • Imagine if gold and prime real estate had a digital baby. THAT’S BITCOIN!

Bitcoin is too volatile

  • History of Bitcoin’s price shows us that there’s a continuing upwards trend, especially since theres a fixed supply cap of 21 million Bitcoin. As of this article’s writing, there are over 18.5 million of the Bitcoin supply already created, and will continue to be issued to the world in smaller amounts because of the way the Bitcoin protocol works.
  • Looking back at Bitcoin’s history, this behavior causes a supply shock, and a huge run-up in the price which we can expect in the coming year
  • This historical pattern of Bitcoin’s price increase is proof that people are gradually adopting it over time. The more time passes, the more people learn about Bitcoin. 
  • People are trying to learn what Bitcoin is. That’s why it’s “volatile”. It’s proving to be a store of value, but it’s an “emerging” store of value because it takes time for buyers and potential buyers to understand what it is
  • Some people have more faith and conviction in Bitcoin than others. These people are known to have “diamond hands”, because they will never sell their Bitcoin and strongly believe in it’s value and potential 
  • Diamond hands = high volatility to theupside (number go up). Uneducated speculators who panic sell means  high volatility to the downside (number go down)
  • Therefore, more people will have Bitcoin. The more people that have Bitcoin, the less volatile the price becomes, and the more valuable your little piece of the Bitcoin pie becomes. 
  • Ergo Bitcoin will become less volatile the more the marketcap/price goes up

Sources:

Lyn Alden’s 7 Misconceptions About Bitcoin

Bitcoin For Beginners

The Little Bitcoin Book