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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”.
by 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 agoWhat'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 agoWhen 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.