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A lot of things to unpack in this comment, but I mainly want to define success as "appreciating value" and failure as "losing value". So if it went from $100k
by enether 2y ago
A lot of things to unpack in this comment, but I mainly want to define success as "appreciating value" and failure as "losing value".
So if it went from $100k to $10k in the next year, stayed at $10k for a few years and then trended toward $0. I think I would define that as failure.
What do you think then?
- bruce511 2y agoAh, so you mean in the sense of a speculatory investment. I guess that happens when there are no longer fools willing to play. That could happen tomorrow, or in 10 years. It probably doesn't go to zero (it still has value other than speculation) but getting price stability would actually make it more successful (as a currency) than it is now.
- enether 2y agoI don't see how it could happen overnight - so I don't imagine it's possible it happens tomorrow. I could imagine it happening over the course of years. But the question then is - what would it take to change the public's minds?
- bruce511 2y agoLike all speculatory investments, which have little underlying value, the ride ends when the bubble bursts. Usually this happens when the money runs out - when it's no longer possible to find the next "greater fool". That might take a while - there's a LOT of money in the world, and a lot of greedy people willing to be convinced that there's gold in them thar hills.