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> they speculate that someone will pay more for it further down the line The greater fool is not required when one asset is inflationary and the other is defla
by halfcat 2y ago
> they speculate that someone will pay more for it further down the line
The greater fool is not required when one asset is inflationary and the other is deflationary. A falling denominator is all you need.
> There is no reason for bitcoin to hold its value.
It holds its value for the same reason as fiat. Because the chance of anyone executing a successful attack on it is prohibitively small.
And if someone does, as you said, then it goes to zero.
In your view, how would bitcoin go to zero without a compromise in encryption?
- Ekaros 2y agoNow what makes bitcoin special and different from any other coin? Take something like Litecoin, far below previous peaks. Surely it is not worse with encryption than bitcoin?
- halfcat 2y agoAt this point, market cap, i.e. the cost to execute an attack against it.
- dools 2y ago> In your view, how would bitcoin go to zero without a compromise in encryption? Everyone realises that it’s worthless and new buyers stop turning up to buy it for more money than the last round of fools