Bitcoin doesn't have the potential to produce income either because it's an unproductive asset. It sits there and either goes up in value or down in value based on what other people are willing to pay for it. Businesses that create value and pay dividends are an income source. Real estate is an income source. The difference between these and Bitcoin are that they are productive assets and pay income without having to dispose of the underlying asset.
Bitcoin will become productive with LN and generate income for you without fundamentally exposing your coins to any sort of risk. I think it will be the first time where you can put your coins to work allowing yourself to earn micro bits without having a different party control them. It will be a major breakthrough because you now have the incentive to actually use your coins in a way that has nothing to do with buy low sell high. The more liquidity is being added to LN, the more usable it becomes, and the more rewarded liquidity providers will be. It concerns very small rewards per time, and the market effect will likely make sure the fees become extremely low, but if it happens thousands of times per day, it adds up nicely in the end. We're not there yet, but the promise is definitely there. In what way will LN turn Bitcoin from an unproductive asset to a productive asset. I don't understand what fundamentally will change. It seems you're suggesting that people take a rake of transaction fees for providing liquidity in LN, is that the case? If that were true, I suppose that would technically make a return on holding Bitcoin possible, but if LN is supposed to be so cheap, the return will likely never amount to anything significant as you'll be competing with everyone else offering liquidity in hopes of earning a return as well, and the competition will prevent any type of worthwhile return from emerging. |
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Bitcoin dipped to 7500$ and i think now it is danger zone could go to 3000$-4000$ again.
Good chance for newcomers, sorry for those who bought bitcoin at 18,000$ an 11,000$ 
What do you think? How low bitcoin can go? Just hodl it This can become new opportunity for those who have missed bitcoin at its peak. Bitcoin has dropped so low and this can be the time to buy even more bitcoins. We can hodl it for a long time and expect for huge profits after some years. Also holding can make you lose money if bitcoin's price is continuously dropping. We cannot tell, but if you want profit, take the risk and have some bitcoins in your wallet. Yeah this is the right time to buy some bitcoin because the price is below $8000 and may you never find this opportunity in the near future. If you have already bitcoin in your wallet, hold them for some time and you will see growth in the price in the coming days. Then you can sell your holding for higher price. In this day selling is not good because of low price. People were saying that at $15,000, $12,000, $10,000, and now $7,000. How right were they? Give up your delusions. You don't know that the price isn't going below $5,000. You don't know the price isn't going back below $1,000. Bitcoin has spent a lot more time below $1,000 than above it, so there's no reason to think that this is the sustainable norm and not three-digit prices. The pool of buyers is shallow now. Euphoria has worn off. It seems like the only people buying now are those who are already in and thinking another rise to $19,000 is inevitable. The more convinced of that you are, the more risky you're going to behave. Do what you think is best, but don't think you're writing yourself a future winning lottery ticket. There's no such thing. I think we will not go under $5,000 because based on the psychological market cycle we are now in the bottom and the only way that we will go is to go to the top and that is the signal for the investors who are hesitating that bitcoin is not a good investment, because they can now invest and get a high chance to make a lot of profit in the long run. There's no way to know we're at the bottom of the cycle, and further no reason to believe we currently are. Everyone who has been buying on the way down has been expecting the price to be at the bottom of a cycle, and they've all been wrong. Even if we were at the bottom of a cycle, the easy money is gone. You're not gonna make 10x or even 5x from here. It's just not going that high again. And so the risk of having to put up so much money for the likelihood of not getting a big return is far too risky for anyone other than total idiots who don't understand how much risk they're taking on by buying here. |
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Im a US citizen and am still confused with the current crypto tax interpretation. In October of 2017 I traded some litecoin for another crypto. Then in January 2018 the tax bill passed and eliminated the like to like exchanges of crypto.
My interpretation is that since I made the trade before the law changed then I did not create a taxable event. Am I wrong in this interpretation?
Some forces are trying to consider Bitcoin as an asset so that they may be able to get taxes on everything a Bitcoin user buys. Bitcoin is not an asset but a currency which is favorable for transaction of money and a source of investment therefore it is a currency and not an asset. Bitcoin user should not pay tax on Bitcoins because this is your own money and not an asset. Tax is not a bad thing and all the money a government has in the account is actually the tax money that it uses for the defense and development of the infrastructure of the country. If government intervenes in the crypto and implements regulations in the use of Bitcoin technology, it can very soon implement a taxation law as well and all the people who earn from the technology should pay the income tax which I would never like. If everyone is paying taxes in crypto then i think crypto is not yet decentralized anymore and with the help of all kinds of regulation that the government are implying. Then we have to face the new face of centralized cryptocurrencies but above all most of the countries are not yet ready for this kind of situation and some are avoiding it at all cost for some reason. Paying taxes in crypto has nothing to do with the level of centralization, and everyone paying taxes in crypto would not mean the currency is centralized. The two things are completely separate issues, and not even linked in any discernible way. Centralization has to do with control, and it is unequivocally decentralized. If the government accepted tax payments in Bitcoin, it would be no different than a merchant selling products for Bitcoins - just another place to spend it. It speak nothing of centralization. |
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Comparing the mindset of the first bitcoin transaction for which 10,000btc was used to buy 2 pieces of pizzas could tell you what the value of bitcoin should be. But today that transaction can not be even imagined, because it will be outrageous. Therefore I believe that bitcoin has been priced over it's original anticipated value. Rather than believe prices will go up, I see prices constantly reflecting the reality, which is downward.
I disagree, satoshi himself said that in the future there will be a large volume or no volume, meaning bitcoin will have a high price or have a value of zero, so satoshi anticipated a huge volume and consequently a huge price for bitcoin as the adoption of bitcoin grew faster than the supply which is a recipe for a price increase, the current price of bitcoin does not reflect its reality and an even lower price will make that distortion even larger. That's also a recipe for deflation and economic catastrophe if the economy were to be based in Bitcoin. Dropping prices or appreciating currency discourages economic activity, which grinds economies to a halt. I don't think considered the long term economic impact of a deflationary currency, only that the currency would not be manipulable which may produce short term benefits but seems to be outweighed by the long term drawbacks. |
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As at the moment, the transactions fee issues has been resolved and that has become past issue. And now people are buying Bitcoin because they believe that in the nearest future it's value will appreciate to the extent that they will make money from their investment in Bitcoin and crypto currency in general.
I don't know there's much buying going on anymore, certainly not to the extent as last year. The price has crashed, and stayed down. Now it's on a slow downward trajectory, and every temporary pump is quickly reversed. It seems there is a small number of people just day trading between all the major coins and not much new money is coming in. I'm not sure how much USD is coming in at all, it may just be coin-to-coin trades at this point, which really does nothing to grow the marketcap/price. |
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The euphoria and delusion is wearing off, and when that's gone all that's left is utility, which is still too low to be at this price. Eventually future potential has to be realized, and that's what Bitcoin's current problem is.
I wish there was an actual use other than the speculation that boils up from time to time. It's not only something that Bitcoin suffers from, but basically all crypto currencies. The insane amount of speculation has completely demolished any sort of understanding of what crypto is about. Everyone here is part of riding the hype train (me included), which is understandable on one side, but irresponsible and quite harming on the other side. In all the years that crypto has been available nothing really changed for the better. It's still speculation that thrives the market, and I don't know if we will see any change of significance in the coming 2 to 3 years.... It still is speculation that drives the market because speculation is all that ever drove the market. The only difference is the amount of money being speculated with. Back when Bitcoin was worth fractions of a penny and wasn't usable for anything, you could pick up thousands of coins for $20. A couple months later, if you could flip that for $100 while the coin still wasn't usable for anything, that seemed like a pretty good return. There was no indication at that point it was ever going to be useful for anything. But the person buying for $100 was speculating or caught up in the novelty just the same as the guy who bought it for $20. This has been repeated through thousands of cycles over the past decade or so, and with most cycles bringing larger amounts of speculation each time. Eventually, it entered mass conception that this would eventually be a payment platform to rival or replace the dollar, and the deeper that notion took root, the more reckless people got with their speculation. There is no reason now to expect it will, or could, replace the dollar. In light of this, all there is is unrealized potential, and that potential seems wildly overstated. And yet, this is what the speculation is based on. |
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The answer is obvious, from the times of Adam and Eve and on, people are always looking for ways to earn quick and easy, dont work many days, but earn as that. So buying BTC form many is a dream that it will make them rich.
I agree with you, but that doesn't make it a good investment. Everyone is looking for a shortcut to hard work and sacrifice, and there isn't one. Bitcoin isn't it. There is no cheat code or fast track to economic success, no matter how many people think Bitcoin is going to make them rich. The number of people buying into the delusion are creating the bubble. Eventually, that delusion collapses under the weight of its own impossibility. But the more people who get sucked in first, the more damage it's going to do. And the people who are already in are incentivized to sell you the fallacy just as they were sold on it, whether or not they realize it's false, because the only way later people can make money on Bitcoin is if other people continue to believe it's worth more than they paid for it so they can sell it to them later. The whole thing is out of whack. |
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Value of the dollar and the dollar index fell not to talk, the dollar compared to mark mark very much (such as the United States and the country's real estate investment contrast, the United States and its consumer price index, as well as the world's consumer price index and real estate). Such calculations are complicated, so it is hard to use devaluations.
In my opinion, the value of USD is quite stable, they fluctuate or the difference is only a little bit not too much. If we choose safe holdings between gold and USD I will choose usd as they are stable and I am confident in the big economies that have used the US dollar, they will grow their strong economy in the future. And usd co more and more valuable. It is only over very long periods of time (multiple decades) that the loss of value due to inflation is noticed in the USD. Year to year, there is very small change in the value of money. People commonly point out that the dollar has lost 98% of its value over the last 100 years, but nobody alive today had cash 100 years ago so nobody suffered that loss. It's a point that doesn't have a real world application. Further, all of the products and services that created that money 100 years ago no longer exist or are deeply depreciated themselves as assets, so it would only make sense that the money that represents those items is worth significantly less. The problem stems from the inability to store value indefinitely, which is why loss of value is a necessary component of money. |
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Because you have to zoom out so far to find meaningful loss of value for holding USD, and because nobody holds wealth in USD for 100 years, the "loss of value" purported to have been suffered has never actually been realized by anyone. If you had a physical dollar 100 years ago, it would be depreciated, yes. But, you didn't have a dollar 100 years ago because you weren't alive 100 years ago. And the people who were alive didn't hold value in cash currency for 100 years. In short, the dollar has devalued by 95% over the last 100 years but nobody has lost 95% of their stored value due to depreciation of the dollar.
Zooming out so far is only to make it super-clear that state money is clearly losing value. From last year to this year, do you expect any price to go down in fiat money? If most people don't hold most of their savings in cash, that is because they are forced to invest in riskier assets, by the design of the system (ie automatic loss of the value of your savings, unless you take risks.) What this shows is that this is a system of theft, by design. (Another way to say it is that it's an inflationary system, by design.) Oh, and it just happens, if you put your money in the (shadow) banking system, or buy stocks, the advantage goes to those who know which banks will be bailed out, and which stocks will do well. (Not to mention the top elites whose lives are based on issuing debt.) You can't store value permanently. It's physically impossible. Things that have value decay and are consumed, and value is constantly destroyed through these two means. The failure of goldbugs is that they expect that all value ever created will last forever, which is why they push the gold standard so hard. It defies economy reality. The value of what you create in the present is going to be worth significantly less in 50 years, and the money that underlies that value should likewise be worth less. Value starts to decay the moment it is created. When money doesn't also, it creates deflation. The appreciation of value in money creates disincentives to spend, which lowers economy activity and puts downward pressure on the economy. Consumption is what creates value, and inflation stokes consumption. It may look manipulative, and perhaps it is, but it's far preferable to the the types of crises caused by the gold standard and our collective inability to shorten the duration and severity of those crises. If all value ever created was storable infinitely, the gold standard would make sense. Because value can't be stored indefinitely, gold ultimately does more harm than good. |
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It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.
Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.
Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.
Bitcoin is a part of digital money. How is digital money is your country ??
Digital money can really help the security of people. It can also reduce the rate of holdapers or snatchers. Transaction will be much faster and hassle free I think for a cashless society evryone needs to know about cryptocurrencues or digital money.Cash is used by every person in the world and it cannot be overtaken by any form of currency.Cash is being used from traditional time period and it is accepted internationally.Cash can be used anywhere and anytime unlike digital currency whuch requires an internet connection.Digital currency needs some basic knowledge about it but this is not the case with simple cash and can be used by anyone. In the US, most transaction use cash but are already using digital cash. The proportion of transaction using physical cash to digital cash is dropping over time, and it started back when checks started being used, which are just an analog of cash. It used to be that cash was physically moved between banks on a regular basis on account of checks being used at merchants, but now this is done electronically. In any event, cash can be the dominant currency and digital can be the dominant method of transfer, and these two things are entirely compatible with each other, and in fact are already the norm. |
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The presence of new investors is very influential on the price of each coin. New investors can boost price increases and coins. This is because the presence of new investors makes the stock of the coins diminished in the market, and make the coins are increasingly rare to obtain.
Only if they come in big enough numbers to meaningfully change the price. If you have a thousand new investors, they're not going to be able to have a meaningful impact on Bitcoin when it has a multi-hundred billion dollar market cap. There's just not enough new money coming in at that point to move the needle. Additionally, the higher the Bitcoin price goes, the more people you need to come in in order to move the price. That ever-expanding base, and ever-expanding rate of growth, is not sustainable, and eventually it was mathematically certain that the price would eventually stumble, the only question was at what point. Seems now we know the answer was $19,000 before the rally ran out of steam. I wouldn't expect the mania to take us back there. |
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Investors like the slow and steady growth in bitcoin while traders like the strong upward spike growth.
I honestly like the strong upward spike growth, it paves the way for new traders willing to have another source of income and they only have to be patient and gain knowledge to not sell their coins too easily and through panic on wrong speculations. It is given that the value of bitcoin will soar in the future so I do not really mind the volatility. Not all have the time and patience making long-term investments.
Both are the same honestly, strong upward spikes just have the thrills and more profit if done correctly.
Price appreciation isn't income. The only way you can realize a gain in Bitcoin is to sell the underlying asset for more than what you bought it for. That's not income, it's capital gains. Bitcoin doesn't have the potential to produce income either because it's an unproductive asset. It sits there and either goes up in value or down in value based on what other people are willing to pay for it. Businesses that create value and pay dividends are an income source. Real estate is an income source. The difference between these and Bitcoin are that they are productive assets and pay income without having to dispose of the underlying asset. |
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There is a big flaw in this assessment because the reduce in mining equipment sales does not mean that the interest in the market is going down, support for mining is one thing and investing in the coin itself is another aspect to look at the market, there is another aspect for the slow down in GPU sales simply because there are ASIC machines to mine those coins, so this is an inconclusive study.
The two are related. Without growing interest constantly pushing up the price, buying new GPUs and investing more money in mining is not going to pay off. So you would expect decreasing mining investment to portend or at the very least coincide with falling interest and falling price. It is only through the constantly increasing interest and support in Bitcoin by new buyers that the price can rise, and the price rise is the only thing that will make new investments in mining equipment profitable. You cannot make money buying more equipment to get a larger slice of the mining pie when prices are falling, the mining market is far too competitive for that. |
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Bitcoin only does one thing new, and that's decentralization. It's a poor store of value due to instability in the price, it's an even poorer currency for the same reason. When he says Bitcoin doesn't solve any real world problems, it's acknowledging the reality as it is right now. The best you can say about Bitcoin is it has potential to change things, but nobody who needs to conduct day to day commerce is taking Bitcoin seriously. To the extent it's used at all, it's to appeal to the niche part of the market that wants to use it for transactions. Bitcoin hasn't proved any ability to be the new gold, the best you can say again is that it has potential, but it's much more of a speculative asset than a store of value.
Bitcoin can't even hold it's value for an hour, the notion that it's more stable than the USD is idiotic. Sorry, there's no sense in sugarcoating that. It's absolutely absurd.
No elite prefers the gold standard because the fiat standard is what made them wealthy. The gold standard was abandoned because it constrained the economy by limiting debt-fueled growth. It wasn't until the abandonment of the gold standard that you got this explosion of ultra wealthy elites, and since the abandonment of the gold standard, the wealth accumulation by the top .1% has really accelerated relative to the rest of the populace. It defies logic they would abandon the system that created their wealth to a larger degree than the gold standard would have allowed, so if you want to sell that, you need to provide some substantiation, because it's not a compelling theory.
If the top elites dislike the gold standard so much, why did every gold standard get abandoned only when the elites were about to run out of gold? 'Fiat money' might have created a lot of the wealth of the elites of today, but the system is also much more unstable than the gold standard days, and on the whole less desirable from the top elites' point of view. Bitcoin hasn't achieved a stable exchange rate against fiat money, yet. It will likely go up a lot more (if with a lot of turbulence) before it does. No, it will probably never serve as a unit of account or means of exchange (the trustless blockchain arhitecture makes those impossible pretty much from the start.) But store-of-value is money's most important function. Go back and look at all the financial crises that happened under the gold standard. It was not the bastion of stability you make it out to be. Deflation caused by the gold standard created the Great Depression. If the "elites" run things as you seem to think and they want a gold standard, there'd be a gold standard. Congress (the Senate) especially is made up of substantially richer than normal folks in our society, and if they have so much power and desire for the gold standard and are doing the bidding of even richer people who also want a gold standard, we'd have a gold standard. In fact, it was the elites who wanted out of the gold standard because it was capping economic growth and limiting their wealth. I never see Bitcoin achieving any kind of price stability. Nobody wants it to have that. They'd rather gamble on a speculative vehicle and dream about the moon. http://www.nber.org/papers/w3488http://www.nber.org/papers/w18616There's plenty more. The economy is susceptible to deflation on the gold standard. The world has moved on for good reason. |
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Bitcoin dipped to 7500$ and i think now it is danger zone could go to 3000$-4000$ again.
Good chance for newcomers, sorry for those who bought bitcoin at 18,000$ an 11,000$
What do you think? How low bitcoin can go? Just hodl it This can become new opportunity for those who have missed bitcoin at its peak. Bitcoin has dropped so low and this can be the time to buy even more bitcoins. We can hodl it for a long time and expect for huge profits after some years. Also holding can make you lose money if bitcoin's price is continuously dropping. We cannot tell, but if you want profit, take the risk and have some bitcoins in your wallet. Yeah this is the right time to buy some bitcoin because the price is below $8000 and may you never find this opportunity in the near future. If you have already bitcoin in your wallet, hold them for some time and you will see growth in the price in the coming days. Then you can sell your holding for higher price. In this day selling is not good because of low price. People were saying that at $15,000, $12,000, $10,000, and now $7,000. How right were they? Give up your delusions. You don't know that the price isn't going below $5,000. You don't know the price isn't going back below $1,000. Bitcoin has spent a lot more time below $1,000 than above it, so there's no reason to think that this is the sustainable norm and not three-digit prices. The pool of buyers is shallow now. Euphoria has worn off. It seems like the only people buying now are those who are already in and thinking another rise to $19,000 is inevitable. The more convinced of that you are, the more risky you're going to behave. Do what you think is best, but don't think you're writing yourself a future winning lottery ticket. There's no such thing. |
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Studies show that people get rich more often by chance, rather than because they are smarter. Probably, luck here plays a role more than the mind. However, we can not say that the rich become more greedy or simply economical people.
As for the crypto currency, for example, with participation in ICO signatures campaigns it is very important to show diligence, perseverance and other similar qualities. However, again, without some luck, even here there will not be any sense.
You got a study to back that up or are you just saying that? Because it's counter intuitive and defies traditional logic. People get rich by building something that creates value in an economy, and that's usually not luck-based but requires intelligence and persistence and an ability to execute on a project. Luck likely plays a role, but is not the sole determinant. People who win the lottery get rich from pure luck. People who build successful businesses generally don't. |
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Im a US citizen and am still confused with the current crypto tax interpretation. In October of 2017 I traded some litecoin for another crypto. Then in January 2018 the tax bill passed and eliminated the like to like exchanges of crypto.
My interpretation is that since I made the trade before the law changed then I did not create a taxable event. Am I wrong in this interpretation?
As a rule, laws do not work 'backwards' which means any now-unlawful activity which was commited before the law came into effect, is not restricted by that law. Tax laws generally don't work that way. If they pass an update for the tax law, it will usually apply to the entire year, even if it was not passed until the end of the year. This is especially the case because you use the laws that are in place at the time you file your taxes, and you file your taxes several months after the end of the year, so you will have to use the laws in place at that time. If they pass a law changing the tax rate on dividends or income in December, it will apply to all the dividends and income you earned all year, not only after December. Tax laws routinely "work backwards." |
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The biggest threat to fiat money is inflation. Inflation can be cured by injecting wealth into the economy and by that rising enough belief to keep the system afloat. This can be done for instance by occupying foreign countries and by that opening up new markets to the companies that are essential to the economy. Or this can be done by loose regulations with the derivatives markets, that will create wealth out of thin air and high hopes.
Can it be that pumping of the crypto markets is just another financial shenanigan created to keep the old system afloat?
They are creating new wealth out of nothing with cryptos, just like with derivatives. The made up wealth that is created, is actually backing the value of fiat. This would make sense why regulators seem so blind on goxdollars and tether.
You can "inject" wealth into an economy. You can inject liquidity, for example, but wealth is created by economic activity which is determined by economic demand and you cannot artificially create that. Loose regulations can aide economic activity be decreasing the cost of operating a business, but it doesn't directly create any new wealth. And no, pumping cryptos is not a financial shenanigan created to keep the old system afloat. That's a crazy conspiracy theory. There's nothing centralized about Bitcoin. It's a mass delusion that the masses perpetrate on themselves. The new "wealth" created comes from somewhere, it didn't come from nowhere. It comes from new people buying cryptos from people who already own them. Eventually the pool of buyers will run low because there will be nobody new to sell to, so no way for them to realize any gains. That's what has been happening to Bitcoin over the last 6 months. There's not enough new buyers coming in for the old holders to realize gains because they got in so late, so they cut their losses. This is self-inflicted damage for believing in a fairy tale, not some evil plot by anyone in particular. |
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I think they are focusing on ICOs and alt-coins, which are generally scams about manipulating price, supply, etc. It would be very healthy for the crypto world if they locked up a bunch of these scammers.
Yeah I agree. ICO's and new Altcoins should be regulated because as what you have said bunch of scammers try to manipulate prices, supply etc. They are the major problem with investors arround the world that is why some people refuse to get into cryptocurrency investments. I do hope that governments will help us with this never ending issue in this crypto industry to further guarantee us our safety. At the end of the day, fraud is illegal whether or not Bitcoin is regulated. There is no defense against committing fraud with Bitcoin just because the government doesn't officially regulate Bitcoin like it does banks or stock exchanges. People committing fraud are breaking the law, and the government has an interest in prosecuting those people. Anyone who disagrees with the government rooting out fraud in Bitcoin exchanges is probably either committing it or profiting off it in some way. We're 9 years into this now, and there have been far too many scams, thefts, and frauds. It's time those people are targeted. |
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I was reading the Speculation section from the Economics forum yesterday, and two guys from the BTC Foundation said that 2018 will be the last time that Bitcoin will be under $10,000. I believe that this statement was made to lessen the worry that comes about every time that BTC drops. I don't know how anyone could make that statement in full faith though, as the nature of altcoins is its very volatility. Since it is not tied to normal economic conditions as fiat currency is, I don't quite see where that prediction comes from. The fact that many economies are talking about some type of oversight does show that acceptance is gaining and perhaps is a harbinger of more stable, and higher, prices.
I didn`t hear about this prediction until now. It`s very reasonable prediction, Bitcoin is making higher all times high every couple years, and almost every year Bitcoin have higher bottom. It`s fine someone to have more faith than others, I have a lot of faith in Bitcoin and many alt-coins! I have read threads from 5 years ago. Many people didn`t believe that Bitcoin will get this far. Threads from two years ago when price were under $1000, just few people predicted $10000 in 2017, others didn`t believe. We have same situation today, believing in Bitcoin or not is the question? I believe, I made my decision already! And if you read the threads over the last six months, people never thought that Bitcoin would get this low again. Basing investment decisions based on mass crowd delusions is generally not a good idea. When Bitcoin was at $19,000, nobody would have said it would be below $7,000 within 6 months. Everyone was all aboard the hype train to the moon, and anyone saying it was a bubble was dismissed as a FUDster, even though they were far more reasonable than anyone thinking it was going to continue to exponentially rise. I think it continues to fall from here. I don't see a reason it's even this high. The euphoria and delusion is wearing off, and when that's gone all that's left is utility, which is still too low to be at this price. Eventually future potential has to be realized, and that's what Bitcoin's current problem is. |
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