https://www.youtube.com/watch?v=PgDsyj5eLmo"Bankrupt By Beanies"
Like the gentleman in the video, you all thought you found a sure thing. And now you watch as the value goes lower, lower, and even lower. Eventually, when there's no hope of recouping your losses for the foreseeable future, you'll tell yourselves that... "Maybe someday bitcoin will become popular again!" just like his wife in this video.
Lesson number one in investing: if you've found something that seems
too good to be true, it is. Somebody made money on bitcoin, but it's at your expense. Those people found out about bitcoin very early and marketed by telling you that it would change the world, and all you needed to do was buy, hold, and sell no matter what.
In 10 more years, maybe there will be a documentary about some of the people here. At least the guy in this video still has all his stuffed animals to show for his financial failures.
Let me play your game for a moment. Here is a link to your video at 5:26.
https://www.youtube.com/watch?v=PgDsyj5eLmo#t=326 Watch for 5 seconds. This is what went wrong with Beanie Babies. It was the point when Dogecoin decided to switch to an infinite number of coins. Bitcoin will only ever have a maximum of 21 million coins. There is no Bitcoin, Inc. waiting to turn out the next batch. Beanie Babies lost its capability as a store of value when the manufacturer pumped up production. Value became diluted, investors pulled out, and the bean bag holders were left with worthless product. Do not confuse this with an item that has limited quantity, guaranteed by mathematics.
Infinitely divisible, bro. In theory there are 1,000,000,000,000,000,000,000,000,000,000,000,000... coins out there. Infinitely divisible. Effectively, however, keeping a fixed number of coins does at least provide a psychological peg so that's good.
The number of coins can not actually be infinite, but can only approach it. As when you have an infinitely small piece of bitcoin, the price would be divided by infinity, thus be zero no matter what. Rendering it useless.
Any non-infinite number of bitcoins though would have value, even if the individual pieces have very low value, like a satoshi. They would still be useful in transactions. As you can just send any arbitrary number if bitcoins or fractions thereof to someone. So the value does not really matter all that much.
