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Bitcoin is a scarce asset, there will only ever be 21M. So based on the number of people on the planet and Bitcoin’s growing adoption with both individual and i
by unboxingelf 4y ago
Bitcoin is a scarce asset, there will only ever be 21M. So based on the number of people on the planet and Bitcoin’s growing adoption with both individual and institutional investors, I’d say the fundamentals look pretty good.
- Out_of_Characte 4y agoNot really, I could fork bitcoin and mine bitcoins that no one wants. Which you might argue is unfairly representing your particular cryptocurrency but you'll have to admit that any better cryptocurrency at any point can reduce the value of bitcoin by 100%. Just because it has never happend doesn't mean it cant. This differs significantly from real estate or gold, which is backed by a tangible representation. With a virtual currency, there is no floor to the amount of losses. Theres also no dependent economic activity to support it right now and any dependent economic activity could be replaced all the same.
- wombat-man 4y agoIt isn't guaranteed at all that it'll be important in the future. Pogs are a scarce asset. Pontiac Azteks are a scarce asset.
- mlyle 4y agoA worthless stock (no underlying fundamentals) can be a scarce asset too. We can all decide that shares of Worthless, Inc. are worth a bunch of money and collect them. But we can't really expect dividends or an acquisition premium in the future.