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It’s easy to take this stance and call others crazy, but what would it take for you to believe your current opinion is wrong about Bitcoin, apart from it changi
by mw888 6y ago
It’s easy to take this stance and call others crazy, but what would it take for you to believe your current opinion is wrong about Bitcoin, apart from it changing to something which is in spirit and function not equivalent? If the answer is: “nothing would change my mind”, then perhaps you are the crazy one; after all, carbon copies of you have been around for every cycle of bitcoin growth.
Do speculative bubbles have cycles, has any speculative bubble grown as much, crashed as hard, then grown even larger than bitcoin has multiple times? Bubbles only pop once, and bitcoin has fell as hard as any other bubble I know you are tempted to compare it to, only to retake the ground later.
Speculative, obviously, bubble? You might be crazy for thinking so.
- biztos 6y agoIf it must pop in order to be (have been) a bubble then yeah, maybe it never pops, and by that definition it would not have been a bubble, but how long do you have to wait for that to be true? I don't think that a very weird year or two is sufficient. A bubble, at least as I understand it, can pop more than once, after all we're not talking about a real physical bubble. Was there a real-estate bubble? I think there was, but prices now make it hard to remember that. I don't see how my current opinion is at odds with Bitcoin going up util I die and it melts the ice caps, hopefully in that order. If you're asking whether I'd stop thinking it's a bubble, I don't know -- I can be crazy (to miss out on the growth) and also right (if it pops some day). And of course you're right about "carbon copies" -- I ignored/missed/misread every crypto cycle so far. I'm not above buying some BTC at $100K but I probably won't, for reasons having nothing to do with crypto per se.