proudhon is the reason why de-meriting should exist.
Hey @proudhon, would you mind explain me this:
bitcoin price cannot be sustained above $10k <---- scientific fact
What's the “scientific” fact that proves the quoted statement? What's the fact that proves that a product cannot pass a certain (arbitrary) price?
I mean, no one really expected to see BTC at these level back in 2011, but this guy was pessimistic right from the start. It really baffles me what's keeping him here...
LOL! Thanks for the quoted message.
There are some people who truly want to be proven right when the rest of the society believes otherwise. They're not psychologically fine. One could say that they're
diseased.
Well the truth is, my sig line is too generous. I don't want to shake people up too much when I deliver scientific and mathematical facts that are counterintuitive but 100% true. But there it is.
Bitcoin actually has a present value of $0. It's just that the market has deluded itself temporarily.
Taleb and I have proven this with 100% certainty.
1. If enough miners don't mine, then bitcoin's value will be $0.
2. When all bitcoin are mined, then miners will only earn transactions fees.
3. Transactions fees are not enough to keep miners mining.
4. Therefore, in the future bitcoin's value will be $0.
5. If there's a even a small constant probability that bitcoin will be worth $0 in the future, then it's present value must be $0.
6. There is
at least small constant probability that bitcoin will be worth $0 in the future.
7. Therefore, bitcoin's present value must be $0.
8. If something's present value must be $0, but it's trading at >$0, then the market is delayed in knowing the truth.
9. If the market is delayed in knowing the truth, and the truth is the asset must be worth $0, then you should take a highly leveraged short position to maximize profit.
Beautiful. Elegant. True.