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Would BTC be worth buying at sub-$2k? I never saw the use-case for it. I’d sooner use a faster, cheaper, more energy-efficient, more centralized crypto like X

Would BTC be worth buying at sub-$2k? I never saw the use-case for it. I’d sooner use a faster, cheaper, more energy-efficient, more centralized crypto like XLM or XRP. But even then: for payments it’s hard to compete with Visa/Mastercard for speed and safety. And as a store of value all crypto is crazy volatile. If BTC goes sub $2k, would anybody reasonably want it anymore or would the emperor have no clothes?

qbasic_forever 4y ago
There's probably still some value in it for darknet activities like sales of illicit goods, ransom payments, etc.
- xmprt 4y ago
  I think what the poster is asking, is why wouldn't communities/darknet activites deal with other cryptocurrencies which are objectively better than Bitcoin in terms of functionality although they have a smaller community and network at the moment.
  - Geee 4y ago
    You guys are funny. Bitcoin is one of the largest currencies in the world with over 100 million users. Read the Bitcoin Standard to understand why.
  - vinaychandranp 4y ago
    I believe most markets already encourage the use of other privacy oriented tokens like XMR.
- altdataseller 4y ago
  I think BTC will always be a gambling ecosystem at minimum. There will be ebbs and flows between it crashing and spiking for its entire lifetime.
- usednet 4y ago
  Pretty much all under the table crypto transactions are in Monero, Zcash, or other privacy coins. Bitcoin’s utility is horrible compared to most other cryptos, its purely a store of value.
mdrzn 4y ago
BTC was at $5k on March 2020, before reaching $60k in April 2021. I wouldn't say it's ever gonna die.
can16358p 4y ago
I'd definitely put a significant amount of money to buy it at $2K, and almost literally everybody I know would too.
- kristopolous 4y ago
  Then it won't hit 2k unless you only believe that and wouldn't actually act on it. Not calling you dishonest, it's just intentions and actions aren't always as connected as we want to think
  - can16358p 4y ago
    I'd probably buy more before it reaches 2K anyway. I was talking more like in a hypothetical scenario where I wake up in the morning and BTC is 2K.
    - kristopolous 4y ago
      If it was I'd honestly pull back. Cryptocurrency has a future and Bitcoin is as necessarily part of it as much as Netscape and Yahoo were necessary for the web. (Or US robotics and compuserve, pick your loser) The thing itself can survive the collapse of the current winners.
      - vidarh 4y ago
        That is a possibility, but I think the point is that if BTC was $2k tomorrow, then whether or not it survives in the long term, it seems highly unlikely to at least some of us that it wouldn't bounce back to substantially above $2k again whatever it's long term fate is. It's a gamble, and I certainly wouldn't put money I can't afford to lose on it, but at some threshold the potential upside becomes significant enough to justify the risk. Where people put that threshold will vary. For me it's well above $2k.
        can16358p 4y ago
        Regardless of the value of Bitcoin, anyone should ALWAYS only invest (or gamble, in one sense) amounts that they can afford to lose. I don't know why anyone does otherwise.

qbasic_forever 4y ago

There's probably still some value in it for darknet activities like sales of illicit goods, ransom payments, etc.

xmprt 4y ago
I think what the poster is asking, is why wouldn't communities/darknet activites deal with other cryptocurrencies which are objectively better than Bitcoin in terms of functionality although they have a smaller community and network at the moment.
- Geee 4y ago
  You guys are funny. Bitcoin is one of the largest currencies in the world with over 100 million users. Read the Bitcoin Standard to understand why.
- vinaychandranp 4y ago
  I believe most markets already encourage the use of other privacy oriented tokens like XMR.
altdataseller 4y ago
I think BTC will always be a gambling ecosystem at minimum. There will be ebbs and flows between it crashing and spiking for its entire lifetime.
usednet 4y ago
Pretty much all under the table crypto transactions are in Monero, Zcash, or other privacy coins. Bitcoin’s utility is horrible compared to most other cryptos, its purely a store of value.

mdrzn 4y ago

BTC was at $5k on March 2020, before reaching $60k in April 2021. I wouldn't say it's ever gonna die.

can16358p 4y ago

I'd definitely put a significant amount of money to buy it at $2K, and almost literally everybody I know would too.

kristopolous 4y ago
Then it won't hit 2k unless you only believe that and wouldn't actually act on it. Not calling you dishonest, it's just intentions and actions aren't always as connected as we want to think
- can16358p 4y ago
  I'd probably buy more before it reaches 2K anyway. I was talking more like in a hypothetical scenario where I wake up in the morning and BTC is 2K.
  - kristopolous 4y ago
    If it was I'd honestly pull back. Cryptocurrency has a future and Bitcoin is as necessarily part of it as much as Netscape and Yahoo were necessary for the web. (Or US robotics and compuserve, pick your loser) The thing itself can survive the collapse of the current winners.
    - vidarh 4y ago
      That is a possibility, but I think the point is that if BTC was $2k tomorrow, then whether or not it survives in the long term, it seems highly unlikely to at least some of us that it wouldn't bounce back to substantially above $2k again whatever it's long term fate is. It's a gamble, and I certainly wouldn't put money I can't afford to lose on it, but at some threshold the potential upside becomes significant enough to justify the risk. Where people put that threshold will vary. For me it's well above $2k.
      - can16358p 4y ago
        Regardless of the value of Bitcoin, anyone should ALWAYS only invest (or gamble, in one sense) amounts that they can afford to lose. I don't know why anyone does otherwise.