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The problem with your example is that there is no demand, so there's no reason for anyone to buy any bitcoin at any price and so no expectation that you could s
by hackinthebochs 9y ago
The problem with your example is that there is no demand, so there's no reason for anyone to buy any bitcoin at any price and so no expectation that you could sell your 400 bitcoin for $160,000. The driver of speculative value for bitcoin is future demand, i.e. what the demand is expected to be down the line. This is partly driven by speculation/greater fools right now. But its also partly the potential of Bitcoin to be a global currency.
- notyourday 9y agoThere's a potential that if you play the price of your chineese take out as tje powerball numbers you will win it.
- hackinthebochs 9y agoRight, but the chance that bitcoin reaches widespread usage, e.g. overtakes VISA/Paypal is judged to be much higher than winning the powerball.
- elif 9y agoBitcoin is an underdog in that fight now.
- hackinthebochs 9y agoNetwork effects work in bitcoin's favor.
- notyourday 9y agoThere's a chance that a shared public ledger will overtake Visa/Paypal. It is million times higher than a chance of BTC overtaking either, and it is a bad bet.
- hackinthebochs 9y agoIf any crypto does, it's likely to be bitcoin (with lightning network).