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https://i.imgur.com/fsCmqVh.png https://i.imgur.com/fsCmqVh.png I just don't understand all of the "BTC will never fall below <some level not far from the curr
by DebtDeflation 4y ago
https://i.imgur.com/fsCmqVh.png https://i.imgur.com/fsCmqVh.png
I just don't understand all of the "BTC will never fall below <some level not far from the current price>" thinking.
- herendin 4y agoYou say you can't understand, but the chart you yourself posted (to illustrate price volatilility) also shows a 12,000% increase in price in less than 8 years, up to today. Past performance is no guarantee of future results, but maybe that, the improbable 12000%, is the thinking that you're trying to understand?
- DebtDeflation 4y agoThat's my point - given the extreme volatility (and the fact that it was trading below $1K less than 6 years ago) why would anyone think there's some floor below which the price of BTC will never fall? Please don't bring up mining costs, which are completely irrelevant here.
- rednerrus 4y agoYou're making a stronger counter argument than you think. BTC only gets a 12,000% increase because you recruit a bigger fool to pay $16,059 than the fool who paid $16,058. The only value that you've offered here is that you can eventually find a fool big enough to pay $1,925,760.