@cdevroe Cigarettes/Bitcoin/AnyAltCurrency can only have stable long-term value in a jurisdiction where government-backed currencies don’t exist (like the WWII POW camps). Next to government backed money Bitcoin will always look trash, and therefore vulnerable to massive cash-outs (that’s where price drops and volatility come from). Going long on Bitcoin is either
a). central bank adoption making it the default currency, or
b). the end of central banks /fiat currency, in
i) some significant states
ii) on the internet generally
c). Some other long-term value as a middle-man between fiat currencies
I assume it’s b)ii) you are backing?