Stop it with these topics.
When price was
100X less what it is now, when it was still in its early/novelty phase, when a lot of people around the world who could have been interested in getting involved in bitcoin never even heard of it (they heard of it in november-december 2013, to then become what are now the r/bitcoin bagdholers, that offered a dumping ground for early adopters to cash out), when just a little injection of fiat coming in the space was able to pump it orders of magnitude higher, bitcoin
recovered!
Whoop-de-fucking-do!
When are you going to understand that pumping from $2 to the old ATH of $32 in 2011 is no the same as pumping now at $220 to the old current of $1200?That it takes amounts of new money coming in that are exponentially higher and the landscape that allows for pumps to happen is totally different?
When a bubble/pump&dump reaches an unsustainable level considering existent demand and possible future demand it stops going up, and it crashes back down to never reach that high point ever again. That's how bubbles work.
Clearly that point for bitcoin was not $2. Was it $1200? Who knows, but very possible
Bitcoiners: thinking than bubbles/P&Ds go up forever since 2010.
it's not 2011 anymore
^^^^^^^^^^
This.
People, just stop saying "it happened in 2011, history will just repeat itself and the bitcoin bubbles will go on forever to 102981 trillions".
It makes you look like a jackass.
Who knows, it might (I doubt it), what I am saying is that y'all should stop taking it for granted or as a very likely scenario just because it happened in 2011
Would have been appropriate to read the OP or at least focus on comprehension. The main point was the fundamental mindset of bear v bull hasn't changed irrespective of price or anything else.
My opinion was tacked on ie, that the $ invested in the ecosystem should be a positive in the future.
If you ask me, the "infrastructure" bulls keep mentioning doesn't sound like a guarantee at all
Your comprehension is poor. Never mentioned this as / is a guarantee, rather, I wrote that because something happened in 2011 or 2013 does not mean (guarantee) it will happen again.
You're also questioning comparisons to market caps and whether they are worthwhile; if a digital token / payment system, often compared to digital gold, is adopted by a larger part of the world than it is today, then it is reasonable (or at least just interesting) to map out possible future market caps. Humans are greedy and love to calculate future imagined gains (this also leads people to hold over sell)
Further do any use cases justify a higher market cap? This comes with the assumption that some of the millions in VC money fleshes out answers / alternatives to some issues. Remittance is a 50bn global industry, for one. Smart contracts another. Saving 5% on retail is good enough if you ask me. Content subscription, micropayments etc. All these have issues right now but the friction may be solved soon. Then they will be coupled to the current range of uses mentioned above.
