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HN said bitcoin was a bubble when it was at $10. HN said bitcoin was a bubble when it hit $500. HN said bitcoin was a bubble when it hit $4000. HN said bitcoin
by setra 9y ago
HN said bitcoin was a bubble when it was at $10.
HN said bitcoin was a bubble when it hit $500.
HN said bitcoin was a bubble when it hit $4000.
HN said bitcoin was a bubble when it hit $10,000.
The issue with knowing something is a bubble is that unless you know when the bubble is going to pop its nearly useless knowledge.
Bitcoin has demonstrated that the end of the bubble is NOT obvious and that there has been plenty of money to be made. My recommendation (what I did) is buy some amount of bitcoin in the off chance that its worth a million dollars in a few years. Because bitcoin is a deflationary system there is at least a good reason to think it will rise in value forever.
- rblion 9y agoI just sold a domain for $500. If I put that into bitcoin, could I easily sell it when it's worth $1500 you think? I don't want to buy it and be forced to keep it. How can it rise in value 'forever'? At some point, government regulations or a major scandal is going to affect the market. Is it not?
- setra 9y agoBitcoin is deflationary with a cap on the number of units. If there is economic growth the value of each bitcoin will increase. Every current conventional currency introduces more monetary units as the economy grows.