My friend is buying rare cars because of the potential to go the price higher, but NO #Bitcoin. Epic fail. 🤦♂️😂
p.s. for him absolute scarcity is not good enough. 😁
Discussion
Which rare cars?
old German cars: mostly Mercedes, BMW, Porsche these are the main ones.
Playing devil's advocate here, rare assets tend to slowly increase in value over time without retracing the same way that markets do. It wouldn't be typical for a classic car to lose 70% of its value over the span of a year, so I can see why he would hold this position. However, not holding any Bitcoin is a mistake.
I'm the kind of degen that will still get in and out at what I consider optimal positions to maximize my stacking, which I know isn't for most Bitcoiners.
He tried to convince me, but by any 5 years he choose, I won with comparing the price appreciation of Bitcoin vs. old cars. He is doing this for business, so we should only measure it by the yield it produces. It will never ever produce as much yield as Bitcoin will. At some point even the old rare cars will be beaten by the yield Bitcoin can make. (of course I'm not talking about the ultra-rare cars which a normal person could never buy)
Even the rarest car won’t keep up with growth of #bitcoin. Growth is irrelevant, absent liquidity.
A Ferrari 250 GTO will keep up with Bitcoin because only a few exist and with time they will go even more scarce...
Countless items have that attribute (scarcity) - including NFTs.
Certainly, Ferrari has proof of work embedded in its brand which is why it’s better than an NFT and more likely to stay valuable.
However, I don’t see anyone bidding up the highest end horse drawn carriage from 1880.