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Do you think the value of BTC tomorrow will probably be nonzero? If so, you are participating in the faith, right? Monetary value may be an illusion, but if off

by mbrock 10y ago

Do you think the value of BTC tomorrow will probably be nonzero? If so, you are participating in the faith, right? Monetary value may be an illusion, but if offer you some bitcoin at half the market price, you'd be quite irrational to abstain, no? I personally like how cryptocurrencies are open protocols, so that I can manage money with open source or self-made tools. It annoys me on a deep level being forced to use banks and their payment systems when I can't even get my account balance from a shell script.

ddebernardy 10y ago
> Do you think the value of BTC tomorrow will probably be nonzero? Actually, I don't, which is why I asked the question. I'm like... what on Earth are these miners thinking? Or more appropriately, those who store a Bitcoin balance. There were insightful answers, mind you, but none (thus far reading) that give a compelling reason to think otherwise, at least to me.
- cableshaft 10y ago
  You seriously believe that there's a good chance that Bitcoin's price will drop to 0 tomorrow? The price suddenly taking a massive tumble I'd at least understand, you never know if some crazy news will tank the price, but 0? Let me just say, if the price dropped tomorrow to 0.0000001 I'd buy hundreds of thousands of them happily, so the price isn't going to drop to zero tomorrow. My actual price where I'd buy more than I already do right now is probably ~$200 (not terribly liquid right now), but I'm far from the only person who is still willing to buy these things at this moment, so there's pretty much zero chance that tomorrow bitcoin will drop down to zero in price. So do you still think the value of BTC tomorrow will be zero? If you still try to assert that you think it will be zero, I can only assume that you are willfully an irrationally blinding yourself to reason, just so you can pretend that Bitcoin is worthless.

by mbrock 10y ago

ddebernardy 10y ago

> Do you think the value of BTC tomorrow will probably be nonzero? Actually, I don't, which is why I asked the question. I'm like... what on Earth are these miners thinking? Or more appropriately, those who store a Bitcoin balance. There were insightful answers, mind you, but none (thus far reading) that give a compelling reason to think otherwise, at least to me.

cableshaft 10y ago
You seriously believe that there's a good chance that Bitcoin's price will drop to 0 tomorrow? The price suddenly taking a massive tumble I'd at least understand, you never know if some crazy news will tank the price, but 0? Let me just say, if the price dropped tomorrow to 0.0000001 I'd buy hundreds of thousands of them happily, so the price isn't going to drop to zero tomorrow. My actual price where I'd buy more than I already do right now is probably ~$200 (not terribly liquid right now), but I'm far from the only person who is still willing to buy these things at this moment, so there's pretty much zero chance that tomorrow bitcoin will drop down to zero in price. So do you still think the value of BTC tomorrow will be zero? If you still try to assert that you think it will be zero, I can only assume that you are willfully an irrationally blinding yourself to reason, just so you can pretend that Bitcoin is worthless.