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Agreed, but have we ever had an asset type that is accessible to pretty much every single person in the world? I get that it cannot go up all the time and I'm s
by andreygrehov 4y ago
Agreed, but have we ever had an asset type that is accessible to pretty much every single person in the world? I get that it cannot go up all the time and I'm sure the price will get more or less stable at some point in the future. On the other hand, since the asset type is so widely accessible, it could go up proportionally to the population of the Earth. Just speculating.
- Gigachad 4y agoThere is no reason to be sure BTC will stabilize on anything even close to it's current value. The volatility represents this. It says the vast majority of speculators do not trust the current value to remain. Even if you fully believe crypto is the future, it's very hard to convincingly explain why BTC is the future and not one of the other coins which implement more features. Someone 20 years ago could have been right about the internet being the future but picked the wrong companies that would win.
- mr_toad 4y ago> I'm sure the price will get more or less stable at some point in the future. I’m not. Most of the demand for crypto is only because it is going up. If it stops going up then speculators will look at alternatives, and it crash again. Once it’s low enough that small gains represent a higher rate of return then investors will return and the cycle begins again. This sawtooth pattern is probably inevitable, and will probably continue indefinitely.
- thunky 4y ago> have we ever had an asset type that is accessible to pretty much every single person in the world? We still don't. Assets have value.