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I'm doubtful that Bitcoin true believers will give up after a crash and expect that there will be buyers. At what price, though?
by skybrian 9mo ago
I'm doubtful that Bitcoin true believers will give up after a crash and expect that there will be buyers. At what price, though?
- ajkjk 9mo agoon the one hand I can't imagine it will ever go fully to zero because then people will buy them just for fun, keeping the price at least a bit up. on the other hand there is a price where the network no longer has any incentive to operate. Whereupon... doesn't it just stop working / become easily forkable? in which case it seems like Bitcoin is perhaps uniquely unable to recover from crashing out of all things that can crash (a thesis which is consistent with it having no intrinsic value, lol)
- Ekaros 9mo agoOn other hand. At some point you can't transact on it for good while. What is the price of currency you can not "physically" move? Yeah numbers of exchanges can move. But if no one spends energy mining and getting lucky there is no movement of bitcoin itself.
- JumpCrisscross 9mo ago> At what price, though? When they’re personally financially desperate. Bitcoin is, in many senses, a measure of the excess capital in the economy.
- andirk 9mo agoWholeheartedly agree. Bitcoin bro here. The amount of fiat that most people can put in to such a speculative and confusing investment is most likely the small % of their $ they can label as "risk capital".