O/t share update

[John2]

House prices corrected in most areas in 2008 but quickly recovered.

Quickly!? On average they returned to 2008 levels by 2014, but even that was with the average being propped up by London.

Look, I get it, people who own houses are scared of the idea of their houses losing value. I share that fear, I own a house with a friend and he doesn't want to sell and is more confident about the market than me so if it crashes I'll get hurt too.

Allowing emotion to drive investment decisions rather than objectivivity is something the majority of us humans do, myself included.

I wouldn't recommend putting everything into ******* at all, and if I sold the house would probably use about 50% of the equity for this purpose.

If I had sold my house when I said I was thinking about it 6 months ago I would have seen a 100% gain so far on anything I put into *******. I'd have been quite unworried had I seen the ******* price fall fall though, as I understand the technology well enough that I am satisfied with the risk/reward ratio and see it as an investment long term. I held it from $1200 all the way to $200 and was never concerned... I was right as it recovered. It's probably going to bubble and then crash again, all markets are vulnerable to it.

Your *******s have no such tangible value and will never recover from any significant downturn in my view, because there is no underlying support.

Guess what, those bank notes in your pocket have no tangible value, nor do the digits stored in a database representing your bank balance. Ask the people of Zimbabwe how tangible government issued money is. We saw huge inflation in the 80s, its brave to think it can't happen again.

******* is more tangible than 'regular' money. It has scarcity and limited supply, that gives it properties like a form of digital gold. Its better than gold in the sense its perfectly divisible and transportable, more secure, free to store with a perfectly controlled supply. 100 years from now we may be creating synthetic gold or have mastered mining it in abundance from other planets/asteroids for all we know.