2 ms·

Markets have a way of humbling the intellectually honest. Many smart developers have lost more than they thought possible trying to outsmart the market. It's ju

Markets have a way of humbling the intellectually honest. Many smart developers have lost more than they thought possible trying to outsmart the market. It's just numbers right? Bitcoin is up 3.7 million x now from 12 years ago, with average fees of $11 a transaction now. There's also less retail adoption than 3 years ago. I could point out other counterintuitive facts, such as, the price going up higher when inflation was higher (100% inflation year 1.) One must come to crypto with an open mind if one wants to discover the truth of it. Bitcoin, and other coins go both higher and lower than you think possible. disclaimer: I am biased.

orange_tee 6y ago
From that I can tell, all this economic and ideological based theorizing is completely misguided. BTC has gone up, but all the theories about what it was going to be and do proved all false: 1. didn't replace fiat, 2. didn't even get used as a currency at all except initially on the black market, 3. wasn't prosecuted by governments at all, none tried to shut it down, 4. but did get regulated in the sense that all commercial entities that deal with BTC need to follow KYC and AML laws, 5. didn't become as decentralized as it was envisioned, 6. most people who "own" BTC, actually own an account with an exchange, 7. does not go counter to the normal markets but instead follows the same trends. Seems like practically everyone who said anything about understanding BTC is full of shit.