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Why would I want to make actual purchases when it's rallying like this? You'd almost always be better off holding instead...
by synaesthesisx 9y ago
Why would I want to make actual purchases when it's rallying like this? You'd almost always be better off holding instead...
- stefano 9y agoSo everyone is holding and buying it, and no one is making anything useful with it. Sounds like a great allocation of capital! /s
- Omnius 9y agoI am all for bitcoin but you think about it as it is right now. People turn their cash into ether then extract more cash then they put in later only because a bunch of other people are doing it too. This has to pop and when it does i buying a shit ton of it for the next rally. --edit extra should have been extract.
- dragontamer 9y agoThat's the problem. If no one is actually using the coin for practical purposes, you've created a glorified Ponzi scheme. The minute that "better off holding" is no longer the most common opinion, the price of BTC will drop. I dunno how long that will take: it took years for Enron to drop to zero for example. But I do not place much trust in the whims of stranger's opinions.