How is Bitcoin $20000 or even $100,000 if it is controlled by a handful of whales that own thousands individually? Don’t get me wrong, I love the tech and principle behind it. The whole point of Bitcoin was to be decentralized. If I had say 20,000 bitcoins and I put them on sell on some exchange for cheap, the whole price of Bitcoin comes crashing down. Someone please tell me how it is valuable when a bunch of jerkoffs got lucky hodling since 2011? It should be $0. #Bitcoin Full disclosure: I own 5.
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It's been around for a decade and still hasn't gained any significant chuck of is primary market - money transfers. The whole value of bitcoin right now is FADy speculation, aka gambling. What did you expect?
Hey you have not used it doesn’t mean it doesn’t exist… BTC is my first choice to do international transfers. Faster, cheaper, and easier than making an international wire transfer in banks
> It's been around for thousands of years and still hasn't gained any significant chuck of is primary market - money transfers. The whole value of GOLD right now is FADy speculation, aka gambling. What did you expect?
😩
I still don’t understand how something like bitcoin can be valuable when anyone can create a new variant of bitcoin any day.
I still don’t understand why the internet is relevant when anyone can assemble a network. /s
Talk more about this. Internet is just there, no one can buy or sell it so no motivation to create an entirely new network. How is bitcoin the same?
How’s your description any different from any other traditional asset? (Stocks, gold, bonds)?
When you buy a stock you are handing over money to a company that is probably doing something useful and adding value to people’s life. Same with bonds. Maybe you can compare btc to gold rush era gold but not today’s gold.
OP’s point was not regarding value generation, but to the fact that some people have huge positions in BTC. As for the rest I agree (for stocks), but in terms of bonds (government) that argument makes no sense. As for the comparison with gold, it’s still valid. Scarcity of an asset is seen as value when you have an inflationary monetary policy. BTC satisfies that by definition.
No matter what the intentions behind it at the time of creation, it’s a pyramid scheme now. It’s value propelled only by new people buying into it and making early adopters even richer. Unlike a stock, it doesn’t add economic value by itself. I am all for staying away from it.
So you assume gold too is a pyramid scheme?
At some point it was, yes.
Rofl
Those who don’t get it, you really need to educate yourself. I feel really sorry for you if you don’t understand it. It’ll cause you to sell the greatest invention in mankind at $50k or $100k. Go read and listen to Robert Breedlove, Preston Pysh, Vijay Boyaparti, Nick Szabo. All the information is there. This is a wealth transfer to anyone who is curious and willing to learn. Ignore at your own peril. The train is leaving the station.
Greatest invention in mankind. Isn’t that too much?
All the ppl u have mentioned are deeply invested in btc’s success. Can you please point to objective observers who are also renowned intellectuals?
Everything is owned by a bunch of 🐳 🐳 🐳. On the serious note, value of bitcoin is the value of a distributed system of trust.
waiting Bitcoin to reach 1M
Lol
It’s going to infinity. Few understand this.
It should be 100k. I own 0.
Why? How did you arrive at the $100k figure
Exactly the same way JPMorgan predicted 146k, pulled it straight outta my butt. However, I strongly believe Bitcoin is undervalued.