3 ms·

Is it overvalued at this point? Will reach its end of growth soon and stay niche? You can’t be truly bullish about something and tell me at the same time that

• TobyTheDog123 5y ago
  I can, actually. Those who invested two years ago have likely already made more money than anyone investing now can. Bitcoin was $20 like… 10 years ago? What price would BTC have to reach for you to get the same level of return if you invested now compared to back then?
  • danShumway 5y ago
    That's pretty easy math to do. Frankly, a world where Bitcoin doesn't eventually see a 2100 times increase in value is also probably a world where it doesn't become a generally-used global currency. If the argument is that Bitcoin's valuation is going to slow down from this point on, then in my mind that is basically a concession that it's not going to revolutionize the world the way that its proponents claim. I don't think people completely understand how incredibly niche cryptocurrency still is and how much it would have to grow before it overtook fiat currencies. Of course, the question is whether BTC's utility actually is going to increase the way its proponents claim (which I am skeptical of). But if it did increase, it's hard to imagine an increasingly limited deflationary asset that's going up in utility value wouldn't also see proportional price increases.