Re: Some predict rise to 500, others to 10,000, what is the truth?
I made a post earlier to Anonymint as to why it's extremly stupid to not hold as many Bitcoin as you can get right now:
Let's break out the list:
1) Because it's literally a free money asymmetric trade, which is why the price is going up. The odds of losing are far lower than gaining.
2) There are only two monetary instruments on earth immune to cascading deflationary collapse of fractional reserve fiat from debts and loans going bad: Bitcoin and Metals.
3) If I buy gold, it has less utility than Bitcoin. Where can I spend gold? Nowhere. All I can do with gold is mail it back to the gold dealer for 90% or less of what I paid for it. Bitcoin utility is currently higher than gold for most people, yet the market cap is zilch. Expect a correction to occur with Bitcoin market cap increasing because this is a truely distorted market if the tiny market cap asset has more acceptance and utility than the huge market cap one.
4) Market cap is determined by market makers and market makers plan to raise the price. People don't build 100 million dollar mining facilities and then let the price be determined by sheer luck or fate.
5) Bitcoin moves in bubbles and there was an extremely long bear market accumulation period with observable hard floors. Whenever a long accumulation period occurs on an actual liquid asset, the price explodes afterwards. If you think Bitcoin is not going to see big moves, you are mistaken.
6) The inflation rate is going from 8% to 4%, so it's actually a real currency now instead of some hyperinflating bullshit.
7) Because fucking boats
1) Because it's literally a free money asymmetric trade, which is why the price is going up. The odds of losing are far lower than gaining.
2) There are only two monetary instruments on earth immune to cascading deflationary collapse of fractional reserve fiat from debts and loans going bad: Bitcoin and Metals.
3) If I buy gold, it has less utility than Bitcoin. Where can I spend gold? Nowhere. All I can do with gold is mail it back to the gold dealer for 90% or less of what I paid for it. Bitcoin utility is currently higher than gold for most people, yet the market cap is zilch. Expect a correction to occur with Bitcoin market cap increasing because this is a truely distorted market if the tiny market cap asset has more acceptance and utility than the huge market cap one.
4) Market cap is determined by market makers and market makers plan to raise the price. People don't build 100 million dollar mining facilities and then let the price be determined by sheer luck or fate.
5) Bitcoin moves in bubbles and there was an extremely long bear market accumulation period with observable hard floors. Whenever a long accumulation period occurs on an actual liquid asset, the price explodes afterwards. If you think Bitcoin is not going to see big moves, you are mistaken.
6) The inflation rate is going from 8% to 4%, so it's actually a real currency now instead of some hyperinflating bullshit.
7) Because fucking boats