I'm convinced about bitcoins future, and in a positive fashion. it's simply doesn't have, a hard value, or even soft value at this point. I think maybe these are a better choice of words than intrinsic.

that's just the truth of where it sits at the moment. when you go to buy something with bitcoin, the price you pay isn't an amount of bitcoin, it's the amount of bitcoin it takes to equal x dollars of whatever currency.

it's value is simply what people believe it's worth, and sure that's true with the usd as well, but it takes a ton to move usd much in any direction. a few positive or negative articles on BTC can be 20 percent in hours. peoples faith is shakey with btc and it's all that's giving it value.... and it just takes people not buying that value to plummet.

even if almost no one was selling, if the highest bid for btc was 7000usd, that's it's price. if it was 0 (and it won't be, that's also it's price). it can't stand alone yet, where as most other currencies can to some extent.

that's why the tether thing could cause issues to me. Shakes of faith, and makes it hard to buy.

I won't stop buying btc, but I won't overlook possible problems either. rather try to understand them so when they happen I can make the right choice.

worked with futures dug into them, knew that when they came it would drop. didn't buy past 14k and got much more btc waiting till now. to use that cash.

all of this also works in reverse though. if the lowest sale for btc is 1 million that's also it's price. you don't want it having a hard value yet, not nearly at it's potential, tons of room on both sides. if tether crashes it I'll buy. though once I started going sideways a bit i figured this death spiral was done and used most of what's put aside for this stuff.... so I hope it doesn't.