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Look at the early investors of Bitcoin, they all invested because they saw it as a currency. When this didn't materialize, the hyped it as an investment.
by md2be 9y ago
Look at the early investors of Bitcoin, they all invested because they saw it as a currency. When this didn't materialize, the hyped it as an investment.
- wuliwong 9y agoI've heard this idea mentioned recently. Is there suddenly a consensus that bitcoin (or crytpo in general) will never be used as currency? To me it seems pretty arbitrary to say it now. Outside of slow transaction times, I'm not sure what has changed. Volatility is just a fact of life until the market cap is significantly larger. Bitcoin may never get enough investment to stabilize but I don't see how that is now accepted as definite.
- luka-birsa 9y agoNobody needs hyping anything. Bitcoin was a viable currency until its price started appreciating stratospherically. There is no sense in spending BTC right now, since you can get x10 gains just by holding it. You don't spend stocks right? I really don't get these snarky comments on how this is a bubble and BTC will die and what not. Just don't buy it and leave it to others that like to have x10-x100 gains in a year. For me it's quite straight forward that BTC value will appreciate over time. There is finite amount of BTC in this world and Y people. Unless some systemic factor (eg. criminalization of use) or technological factor (eg. crypto is broken) rears it's head it's fair to say that an asset designed to be deflatory in price will increase its price over time. It's not going to be a straight line, and I really hate these massive growth spikes (not sustainable, plus they play with your emotions), but we're well ahead of the times when BTC and/or crypto could be called just a fad. Not with wall street actively pursuing legal means to invest in BTC.