Re: I believe the price has nowhere to go but down and here's why I think so.
By the same token that your weak-minded friend was impressed that "a bitcoin" is "worth more than the dollar", we have idiots on CNBC saying things like "it's crazy that people are actually willing to pay $100 for just one of these bitcoin things". WTF!! Why can't people understand divisibility and percentages?
Don't be part of the problem!
Actually its more like why pay 100 Dollars for something that someone payed 1 Cent for three years ago?Don't be part of the problem!
Or worse why pay someone 100 Dollars for something that they bought for 1 Cent three years ago?
Of course that does only makes sense if you think there is someone who will pay you 10,000 Dollars in another three years.
Don't you be part of the problem.
You again... You do KNOW you're wrong or that your points are irrelevant, right? Just in it for the argument? If so, that's cool. We should all be able to defend our points in detail and you do help people with that.
BUT - I feel like I shouldn't have to say the following:
What someone paid for an asset previously doesn't matter. Do you begrudge early Google employees who were issued stock when the company's valuation was in the low millions? Now that Google is 20,000x bigger, does the fact that someone, at some point in the past, paid a tiny fraction of current valuation impact the value that the buyer/holder is getting currently in any way? No. This is basic stuff and you know it.
Except GOOG did rise 700% not 1,000,000%. Is that your defense?
Because isn't not even wrong, it doesn't even make sense. You better get used to the argument, because it will be there till the end. If that does make you angry go push that orange button!
