People have been saying since it was valued at $1 that it was overvalued, or nobody should pay $1 for a virtual coin. Same people are still arguing the same thing 5 years later...
Bitcoin Gets Close to $5,000
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Re: Bitcoin Gets Close to $5,000
#22Would it be correct to say that there is a threshold where the value of a bitcoin makes it reasonable for retailers/small business/etc to invest in using them as an actual currency at the register? If that's the case, then it would make good business sense for someone nefarious to pump up the price as much as possible to reach that threshold, wait for the use to become common, then cash out. Effectively manipulating the market into something it didn't need in the first place.
Re: Bitcoin Gets Close to $5,000
#23Earlier quoted context omitted.
I've been into Bitcoin since 2011, and it's interesting that people are still making tulip comparisons 6 years later. Tulip mania itself only lasted about 9 months. I wonder how long Bitcoin will have to hold out before the tulip argument could no longer be made.
Probably when it is used mainly as actual currency, not for speculation or black market exchanges and laundering.
I was skeptical of Bitcoin for a long time, but the other day I was on a (legal) website and they had it listed as a payment method, right next to Visa. Seeing it there really showed me how far it's come.
Re: Bitcoin Gets Close to $5,000
#24Earlier quoted context omitted.
I've been into Bitcoin since 2011, and it's interesting that people are still making tulip comparisons 6 years later. Tulip mania itself only lasted about 9 months. I wonder how long Bitcoin will have to hold out before the tulip argument could no longer be made.
Probably when it is used mainly as actual currency, not for speculation or black market exchanges and laundering.
How is DNM usage not an actual currency?
Re: Bitcoin Gets Close to $5,000
#25It's kinda cool to be living in a tulip era like this. I wish there was some way I could make a long term bet against the the price of bitcoin, say it's price 10 years from now. Of course, this is impossible. If there is anything we have learned, and I can demonstrate that I predicted 5 years ago, it's that the definition of bitcoin is infinitely divisible. I could claim a bitcoin fork in 2027 is the true bitcoin, an…
I'm kind of glad I didn't buy a lot of btc earlier - I would be a lot more stressed out about the right time to sell. Then I'd sell at just the wrong time and beat myself up for it. Then I'd probably get audited...
Re: Bitcoin Gets Close to $5,000
#26Re: Bitcoin Gets Close to $5,000
#27People have been saying since it was valued at $1 that it was overvalued, or nobody should pay $1 for a virtual coin. Same people are still arguing the same thing 5 years later...
And now fewer and fewer can afford a whole coin.
Re: Bitcoin Gets Close to $5,000
#28Re: Bitcoin Gets Close to $5,000
#29Is anyone worried about that unsustainable bitcoin energy usage article on HN a few days ago? Would Litecoin have those same problems?
Re: Bitcoin Gets Close to $5,000
#30Bitcoin have no real world use case
Tell that to the bitcoin remit startups in the developing world.