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<< the value of it should be close to $1 or less. Value ( and by extension price ) of anything is what people are willing to pay for it. Some digital cards in

<< the value of it should be close to $1 or less. Value ( and by extension price ) of anything is what people are willing to pay for it. Some digital cards in a Blizzard game were purchased for thousands of dollars. There is some digital real estate that was purchased for millions. We can argue all day long whether it makes sense and what the value should be, but that is the wrong perspective to begin with. << will never give dividends Even now I can easily point to stocks that never paid dividends. << it's a pyramid scheme At this point, it is a pyramid scheme the same way US dollar is a pyramid scheme.

Bubble_Pop_22 4y ago
> digital real estate was purchased for millions. It was purchased for millions AT THE TIME OF PEAK MANIA . big difference Also it was purchased for millions by the only guy in the world willing to pay millions for it… Don’t extrapolate or you risk making an hypothesis of liquidity and price permanence which is just not there A mansion in Naples or San Mateo was worth millions in the 1980s, 90s , 00s , 10s , 20s and there are millions of potential buyers globally who’d happily pay that price. That’s an asset which proved both liquidity and price permanence (matter of fact appreciation) but still it’s not a given that it will prove to be such going forward
- A4ET8a8uTh0 4y ago
  << A mansion in Naples or San Mateo was worth millions in the 1980s, 90s , 00s , 10s , 20s and there are millions of potential buyers globally who’d happily pay that price. That’s an asset which proved both liquidity and price permanence (matter of fact appreciation) but still it’s not a given that it will prove to be such going forward If there is one thing that 2008 should have taught anyone, it is that nothing is permanent. I am not going to get philosophical here and say that possessions are fleeting, but to pretend that real estate is not propped up hard and effectively is guaranteed to "prove to be such going forward" is about the same faith that keeps ANY asset including bitcoin up. Why are you so certain that this timeline will never see Naples mansion price go to zero? I can easily see several scenarios where that could happen.
imtringued 4y ago
>At this point, it is a pyramid scheme the same way US dollar is a pyramid scheme Yeah the dollar is a pyramid scheme. It has the same construction flaws as Bitcoin. You can withdraw it from the markets and just hoard it which causes deflation. The central bank then allows commercial banks to increase the money supply instead of increasing the circulation velocity. The problem with newly created money: it can be hoarded too, resulting in an infinite doom loop.

Bubble_Pop_22 4y ago

> digital real estate was purchased for millions. It was purchased for millions AT THE TIME OF PEAK MANIA . big difference Also it was purchased for millions by the only guy in the world willing to pay millions for it… Don’t extrapolate or you risk making an hypothesis of liquidity and price permanence which is just not there A mansion in Naples or San Mateo was worth millions in the 1980s, 90s , 00s , 10s , 20s and there are millions of potential buyers globally who’d happily pay that price. That’s an asset which proved both liquidity and price permanence (matter of fact appreciation) but still it’s not a given that it will prove to be such going forward

A4ET8a8uTh0 4y ago
<< A mansion in Naples or San Mateo was worth millions in the 1980s, 90s , 00s , 10s , 20s and there are millions of potential buyers globally who’d happily pay that price. That’s an asset which proved both liquidity and price permanence (matter of fact appreciation) but still it’s not a given that it will prove to be such going forward If there is one thing that 2008 should have taught anyone, it is that nothing is permanent. I am not going to get philosophical here and say that possessions are fleeting, but to pretend that real estate is not propped up hard and effectively is guaranteed to "prove to be such going forward" is about the same faith that keeps ANY asset including bitcoin up. Why are you so certain that this timeline will never see Naples mansion price go to zero? I can easily see several scenarios where that could happen.

imtringued 4y ago

>At this point, it is a pyramid scheme the same way US dollar is a pyramid scheme Yeah the dollar is a pyramid scheme. It has the same construction flaws as Bitcoin. You can withdraw it from the markets and just hoard it which causes deflation. The central bank then allows commercial banks to increase the money supply instead of increasing the circulation velocity. The problem with newly created money: it can be hoarded too, resulting in an infinite doom loop.