Quote from: Traxo on June 29, 2019, 07:55:15 AM

Decoded message from outer space:

Quote from: that guy

Quote from: Febo on June 28, 2019, 02:17:43 PM

As soon as Bitcoin reaches 20k and new ATH, new hype will start. At that time fresh money will start to pour into Bitcoin and from there into alts. Right now there is no fresh money. Or very little and Bitcoin grow from altcoins. When this will happen who knows.

The retail investors never came back into the stock market after they got fleeced in 2008. The supply of greater fools is not unlimited. The boomers are getting old and more financially conservative. The Millennials do not have any money.

This turn up for BTC appears to be institutions taking over, as they replace the shitcoins with Facebooks Libra and then prepare to back Libra with Bitcoin after the Core riff-raff are fleeced with the SegWit donations (c.f. also the BCTalk thread).

Libra replacing shitcoins is an amusing narrative. Bitcoin maximalists hate altcoins so much they are trying to meme this into existence. Funny how quick they abandon their cypherpunk ideals when the price is going up. They'll take Evil-corps dystopian coin over any legitimate free market competition to their bags.

When do you think they will figure out that a stable coin will never replace altcoin gambling? Price go up is the game. Price go sideways is never going to replace price go up. Furthermore, do they ever wonder why the "better" stable coins such as GUSD haven't replaced tether? Pull at that thread and you'll realize that no only will facebook coin not replace alt-coins, but it won't even replace tether. The market will eventually figure this out, but the memes are slow and the herd is dumb. Bitcoin maximalists are incorrigible.