3 ms·

What makes you think it will tend towards zero?

unsupp0rted 4y ago
Because why wouldn't it? Nobody seems to want or need bitcoin for anything in particular. Even as a store of value, there are better and more established stores of value.
- danuker 4y ago
  I don't think it would, because all it would take is some people to want to buy it for speculation purposes, and it would have nonzero price. Sure, it's a dead asset producing nothing and having not much use. But it's easier to transfer than stocks or bonds, and does not suffer of unexpected supply inflation.
dools 4y ago
Personally I think it will tend towards zero because it’s price is based entirely on speculation and it has no fundamentals
- deleted 4y ago
  [deleted]
kristopolous 4y ago
Not to say that all forms of cryptographic currency will, but Bitcoin only serves as a value store. The enthusiasts don't actually pay for things in Bitcoin but instead horde it so it doesn't really serve a society function as much as it services an ideology. The Bitcoin core, the true adherents, are approximately the same percentage of the public that did Liberty Dollars; sovereign citizen types that maintain sprawling websites attacking the Federal Reserve or proffering quack miracle cures. It's a weird sideshow of frauds, scammers, ponzi schemes, multilevel marketing, occult and conspiracy theorists, the kind that listened to Bill Cooper on shortwave ... That's what will eventually be left propping up the value so it's whatever that group can muster. The boom/bust cycle of Bitcoin being approximately 4 years and aligning with presidential elections could be a coincidence... Let's see what 2025 brings. Regardless, someday Bitcoin will be integrated into their paranoid delusions as part of the enemy plot and these last holdouts will abandon it. But that's the long game. I might be talking 25 years here. Or maybe 25 months, who knows?
- wallace_g 4y ago
  [flagged]
  - kristopolous 4y ago
    Nope, I've made plenty of money in crypto.
- wpietri 4y ago
  Not sure why you're getting downvoted. This seems like a pretty straightforward viewpoint to me. Not that there aren't other valid viewpoints on the same topics, but I totally get where you're coming from. Regarding the long game, it could go longer. You might consider The Great Disappointment: https://en.wikipedia.org/wiki/Great_Disappointment https://en.wikipedia.org/wiki/Great_Disappointment It was the purest bunk. Sincere bunk, well meaning bunk, but still bunk. It was proven wrong and wrong and wrong again, but not only did some people take their beliefs to their graves, but an offshoot is still going more than 150 years later.

Because why wouldn't it? Nobody seems to want or need bitcoin for anything in particular. Even as a store of value, there are better and more established stores of value.

danuker 4y ago
I don't think it would, because all it would take is some people to want to buy it for speculation purposes, and it would have nonzero price. Sure, it's a dead asset producing nothing and having not much use. But it's easier to transfer than stocks or bonds, and does not suffer of unexpected supply inflation.

dools 4y ago

Personally I think it will tend towards zero because it’s price is based entirely on speculation and it has no fundamentals

deleted 4y ago
[deleted]

kristopolous 4y ago

Not to say that all forms of cryptographic currency will, but Bitcoin only serves as a value store. The enthusiasts don't actually pay for things in Bitcoin but instead horde it so it doesn't really serve a society function as much as it services an ideology. The Bitcoin core, the true adherents, are approximately the same percentage of the public that did Liberty Dollars; sovereign citizen types that maintain sprawling websites attacking the Federal Reserve or proffering quack miracle cures. It's a weird sideshow of frauds, scammers, ponzi schemes, multilevel marketing, occult and conspiracy theorists, the kind that listened to Bill Cooper on shortwave ... That's what will eventually be left propping up the value so it's whatever that group can muster. The boom/bust cycle of Bitcoin being approximately 4 years and aligning with presidential elections could be a coincidence... Let's see what 2025 brings. Regardless, someday Bitcoin will be integrated into their paranoid delusions as part of the enemy plot and these last holdouts will abandon it. But that's the long game. I might be talking 25 years here. Or maybe 25 months, who knows?

wallace_g 4y ago
[flagged]
- kristopolous 4y ago
  Nope, I've made plenty of money in crypto.
wpietri 4y ago
Not sure why you're getting downvoted. This seems like a pretty straightforward viewpoint to me. Not that there aren't other valid viewpoints on the same topics, but I totally get where you're coming from. Regarding the long game, it could go longer. You might consider The Great Disappointment: https://en.wikipedia.org/wiki/Great_Disappointment https://en.wikipedia.org/wiki/Great_Disappointment It was the purest bunk. Sincere bunk, well meaning bunk, but still bunk. It was proven wrong and wrong and wrong again, but not only did some people take their beliefs to their graves, but an offshoot is still going more than 150 years later.