3 ms·
I’m persuaded that in the long run -- that is, over many years -- Bitcoin is likely to appreciate far above current levels as it gains further adoption worldwid
by cs702 14y ago
I’m persuaded that in the long run -- that is, over many years -- Bitcoin is likely to appreciate far above current levels as it gains further adoption worldwide. Here's why: https://cs702.wordpress.com/2011/05/29/on-the-potential-adoption-and-price-appreciation-of-bitcoin-in-the-long-run/ https://cs702.wordpress.com/2011/05/29/on-the-potential-adop... -- I wrote this more than a year ago, and still think it's correct.
However, I would not bet on the direction of Bitcoin prices in the short run, because I have no advantage over the many short-term traders and speculators who make up the daily Bitcoin market. (As Warren Buffett says, “if you've been playing poker for half an hour and you still don't know who the patsy is, you're the patsy.” I don't want to be the patsy.)
- aristus 14y agoA reader offered to buy a copy of my book if he could pay in BTC. I printed it out for safekeeping and to show my kids someday. I think that's about as far as I will invest.
- javert 14y agoI haven't read your post, but I agree with your projection. I'm happy to put a significant but disposable amount of my money in bitcoin while I can still afford to get a significant percent of all bitcoins ever (which I still can). (EDIT: And by that I mean, say, something like .01%.)
- cs702 14y agoThank you. FWIW, my post both outlines the reasons why Bitcoin would appreciate and makes an effort to quantify potential appreciation under different worldwide usage assumptions.