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People do not realize, want to think or feel this time is different when in a bubble- it is not until after the bubble pops people realize how irrational it was. Tulips......really???
Yep a crash is going to happen at some point. Obviously.
Does bitcoin have a place? Yes it does. But not at these price levels.
Why not at these price levels? If Bitcoin were to take even a tiny part of the gold marketcap, Bitcoin would be 10x what it is today.
Another example I like to throw out is there's probably about 14 million Bitcoins out there if you take away lost coins, satoshis million coins, and take into account whales and peopel with multiple coins.
In the world there are 15.8 millionaires. If Bitcoin were to become a "normal" asset class that everyone wants to hold like gold and silver there are not enough Bitcoins in the world for everyone to own.
I don't feel like doing the math but I saw a good story the other day about how if you gave everyone in the world some Bitcoin that would be like 0.003 Bitcoins per person, if you gave everyone in the USA a bitcoin it would be something like 0.05, I'm totally off on my numbers but the point is it's scarce, so if people continue to want it the sky is the limit.
I suspect there are a few more than that, but it's the "0.8" that fascinates me. Is this someone who only has $800,000? Or is it just a really really short guy?
People always wanting it presumes BTC is the game in town and remains so. The one thing we know is that technology moves forward rapidly, so there will always be something else newer/faster/better because crypto is based on technology.
People always wanting it presumes BTC is the game in town and remains so. The one thing we know is that technology moves forward rapidly, so there will always be something else newer/faster/better because crypto is based on technology.
Better, faster and cheaper is already here and has been for a while. There's over 2000 coins that are better, faster, cheaper and more private but Bitcoin is still growing faster than ever
Question: If you held no BTC, and at BTC prices of $15K+ per coin, would you invest in Bitcoin? Be honest.
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