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> As far as I can see, there's no particular reason to expect the slide to end here. The real bottom is underpinned by the "True Blue Bitcoin Believers", who w
by bb88 8y ago
> As far as I can see, there's no particular reason to expect the slide to end here.
The real bottom is underpinned by the "True Blue Bitcoin Believers", who will most likely die than sell their bitcoin shares.
In a few years we'll realize the true value of Bitcoin wasn't the blockchain, but it's existence as a curiosity of sorts, where people were buying and selling purely imaginary things -- numbers -- which had no real value in the real world.
- wpietri 8y agoYes indeed. Although I'm not sure the TBBBs will provide much of a floor. Holding doesn't prop up the price; they have to keep buying. I heard somebody refer to Bitcoins as "math beanie babies", which certainly fits your model.