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Try it for certain vintages of fine wine. The same as Bitcoin. Over time the quantity available for sale decreases due to loss. People lose their keys and the c
by neilwilson 6y ago
Try it for certain vintages of fine wine. The same as Bitcoin. Over time the quantity available for sale decreases due to loss. People lose their keys and the coins get lost. People drink the wine. Both naturally reduces supply driving up the price of the remainder.
BTC is a one way bet, right up to the point where people decide it isn't worth holding any more. Just like certain vintages of wine.
- shawnz 6y agoSure, the fair value might slowly climb over time due to losses, but that has nothing to do with the fact that it's the target of a lot of speculation. The fact that there is some small rate of losses doesn't significantly impact the amount of downside speculation you'd expect.