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Watching this whole thing really has me scratching my head. Honestly - the value of BTC in a decade is anyone’s guess. For me, I have a modest holding (in term

Watching this whole thing really has me scratching my head. Honestly - the value of BTC in a decade is anyone’s guess. For me, I have a modest holding (in terms of its USD value today as compared to my other investments). After much wrestling, I’ve decided to just let it sit and be done with it. If it crashes back to pennies, oh well. If it goes to the moon, I’m glad I had a piece of the action. As much fun as it seems, I’ve made the deliberate decision to not try to game / day trade it. It’s been possible to try to make money like that in Vegas for many years and that’s never been that interesting to me, either.

acjohnson55 9y ago
Define "the moon"?
- davidgh 9y ago
  The “moon” is the value required to have the jaw of your doctor / lawyer neighbor hit the ground when you tell them “I own one bitcoin”.
  - acjohnson55 9y ago
    What's absurd about that concept is that it supposes that there's a day coming when people who haven't already bought Bitcoin will want it so badly that they'll be willing to enrich people who are buying in now. I think people who bought in a year ago will be the ones who can claim that sort of reward, at best.
    - davidgh 9y ago
      When Bitcoin was $1,000 you could have made the same argument in suggesting it would never go to $15,000. Buyers today are not considering “should I or should I not enrich those who bought earlier”. They are simply making a bet that the value might go up and want to own some if it does. As an asset rapidly increases in value and the underlying driver of that increase is not well understood, all sorts of unexpected things can happen. The question is not how big will the bubble get, but who will be left standing when the music stops.
JonnyNova 9y ago
Bitcoin definitely won't live for another 10 years. Even without a bubble burst it will definitely get superseded by better alternatives by then.

acjohnson55 9y ago

Define "the moon"?

davidgh 9y ago
The “moon” is the value required to have the jaw of your doctor / lawyer neighbor hit the ground when you tell them “I own one bitcoin”.
- acjohnson55 9y ago
  What's absurd about that concept is that it supposes that there's a day coming when people who haven't already bought Bitcoin will want it so badly that they'll be willing to enrich people who are buying in now. I think people who bought in a year ago will be the ones who can claim that sort of reward, at best.
  - davidgh 9y ago
    When Bitcoin was $1,000 you could have made the same argument in suggesting it would never go to $15,000. Buyers today are not considering “should I or should I not enrich those who bought earlier”. They are simply making a bet that the value might go up and want to own some if it does. As an asset rapidly increases in value and the underlying driver of that increase is not well understood, all sorts of unexpected things can happen. The question is not how big will the bubble get, but who will be left standing when the music stops.

JonnyNova 9y ago

Bitcoin definitely won't live for another 10 years. Even without a bubble burst it will definitely get superseded by better alternatives by then.