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I made a bet with a friend based on that same reasoning two years ago, i know owe him. I believe the problem with market price in general is that there's no wa
by bsaul 6y ago
I made a bet with a friend based on that same reasoning two years ago, i know owe him.
I believe the problem with market price in general is that there's no way to correctly evaluate if a price is "rational" or not. There are so many things plain wrong with the current state of the economy (from central banks monetary policies, to inflation, to interest rates) that i don't even consider bitcoin to be anything special anymore.
It all looks like a degenerate monster agonizing, making all kind of weird sounds and shapes while going down.
- Closi 6y agoI think the bet with your friend was sensible - but it does show the problem with bubbles, which is you can never predict when they go pop :) I've got no idea if it will pop in 1 day or in 50 years, but I think I've just got to stick to my guns that the fundamentals aren't there. And maybe I'll loose a lot of money compared to investing, but again, you never know where you are in the bubble cycle!