[Hammer]

I think at this point the jury is still out, and I wouldn't try to convince you that you are wrong in the majority of what you say Brian. Realistically I think there is still room for Bitcoin and/or crypto (I look at the 2 separately), to become genuinely world changing or essentially fail. I would say the same about all of my main holdings actually. They all have risk of blowing up or dominating the world. I think Bitcoin is only 11% of my portfolio right now, I don't own any other crypto as I believe its the wrong time to do so.

I also think looking far in to the future is pretty futile. We have a really bad history of predicting the future. For me this is a 2022-2025 investment. Then at that point I will go from there. I played the past cycle as a separate entity. I think 2022 will suck as will 2026. I thought 2021 would have a peak and I think 2025 will too. I can't say I am positive, but I like the risk reward of it playing out.

A few points I would like to expand on and reply to...

I agree mining has been harmful to the environment, and continues to be to some degree. Although its over played in the media, the narrative tends to be pushed around without the majority checking the facts as they are right now. Mining for Gold has always been worse for the environment. Bitcoin mining is going through the process of becoming much cleaner. Actually I bought a small holding in a Bitcoin mining company called Cleanspark Friday, I do think clean energy mining is the future and there seems a really strong swing towards this direction.

I don't think Bitcoin's future lies as a currency. It is too slow and clunky compared to other certain cryptos. Doge or numerous other cryptos could be used for that purpose or perhaps a CBDC. Although I think the latter would be a huge step in the wrong direction for the small people due to the centralised control it would be give to governments.

I guess a key point is you don't believe it has value, but I do. It's value will always be driven by the market. I am sure there are a whole bunch of other things we would disagree on the value of to, but the wider market decides the real underlying value. There is a factual value to Bitcoin, as there is gold or a stock. The numbers are factual information.

I will point to the scarcity all day. I don't know how many tonnes of gold get mined every year, a lot. I heard 40% of all the dollars in existence were printed last year. No idea if that is true, but it was a lot. Both of those increases to gold and the dollar eat at the underlying value of the asset.

Bitcoin is easily divisible. It is durable. It is portable. It is resistant to counterfeiting. As a store of value it just wins, it just solves problems that exist with previous stores of value. An upgrade. It has no other assets that it is directly in competition with, its decentralised, unlike all the cryptos out there. All just my opinion, of course.

As I say, I can't say it will last forever. Something better may come along. Looked at in isolation as a 2022-2025 investment I really like it. When the historically right time comes in the cycle I will convert maybe 20% of my Bitcoin in to alts most likely. Fundamentally I think all of the top alts suck ass compared to Bitcoin for various reasons. I don't want to hold them for long. But I suspect they will be faster horses than Bitcoin over a certain time period, but with the higher risk you would expect.