Do you have any analysis as to why this trend is unsustainable? It perplexes me why there are those on the forum who are only willing to accept slight success for bitcoin. What if a small country adopts bitcoin as their national currency? What if a major e-commerce site integrates bitcoin? Those that prophesy a downtrend because bitcoin adoption is unsustainable should at the very least back up their arguments with logic.
That's not to say a major flaw could be discovered tomorrow and the price tanks to $0. Both are possible, why do you think one is probable over the other, and what proof other than napkin logic and feelings do you have?
That's not to say a major flaw could be discovered tomorrow and the price tanks to $0. Both are possible, why do you think one is probable over the other, and what proof other than napkin logic and feelings do you have?
I should clarify, I mean the trend with relation to precious metals. I do not believe BTC will appreciate much farther against silver and gold. That's also what I meant by exit plan; in spite of new money, you can't eat bitcoins.
Why do you think it's unsustainable. It doesn't matter which relationship we are discussing. If it is a generalized belief, that's all well and good. This is the speculation sub-forum after all, and all opinions are welcome. I don't however, agree with statements like The trend right now is unsustainable. This is what we know.. We don't know this, and you haven't offered up any explanation as to why you feel this way.
As an aside, currency was not made to be eaten. If you are, you're doing it wrong.
Seriously? In comparison to percentage gains and losses on logarithmic charts to the upside we are seeing a linear progression towards ZERO in silver/BTC. We know it's unsustainable because precious metals can never be worth zero.
This isn't about gaining or losing 10%. This is about how many times you can gain or lose $1 before you hit ZERO. When you go to zero, very small moves turn into huge percentage moves. Silver is going to become exceedingly volatile as it lowers in price, and a time will come when it reverses. I just have no idea when that time will be. But what we do know, is that precious metal's linear trend towards zero, denominated in BTC, is not sustainable.
You have nowhere near the number of data points to ascertain a linear function. For all you know, it's asymptotic, kinda like Bitcoin
