Post
Topic
Board Bitcoin Discussion
Re: Is Bitcoin close to becoming totally irrelevant for most "normal" people??
by
mindrust
on 02/01/2022, 10:36:52 UTC
Is it just my impression or is interest in Bitcoin going down rapidly? One of the top recent threads is "Btc is boring".
Most of the other threads is mainly about hodlers trying to convince others to buy BTC, kind of reminds me of some random MLM forum rants promising riches and little to no substance.

I'll give you a few examples. The first example is kind of funny. The people who bought in at below $1000, wants YOU to buy in at $50,000 or even higher for that matter. They talk about all the money they made and now its your turn to make money. Only thing is 50k isn't the same as below 1K.
Another thing is that it's a lot harder for the market to lift 50K than 1K, try to lift 50kg and less than 1kg and see what is easier, the answer probably wont surprise you all that much.

The second example is about scale and the law of high numbers;

If the 1% (that pumped Bitcoin)were to dump their BTC holdings, because of for instance a stock or a bondmarket crash, triggered by for instance higher interest rates. If so, you would see a BTC (and altcoin) crash like not seen in many years...
Regular blue collar Joe hasn't got the kind of financial funds to replace what the 1% could pull out. Only the 1% has 1% money, and if they say i'm out of BTC, the price of BTC will adjust to what regular Joe can afford, and that wont be much in a market crisis.

Do you have other examples, please share them with the rest of us for a more balanced forum reading experience.


That's all nocoiner talk man. Do you have any idea how many times bitcoin died last year? I forgot the exact number but it was 20 or 30 something. Bitcoin already made it this far. When it was at $1k, $20k looked impossible and here we are at $50k. Does $500k look impossible to you? Then fine. Good luck with whatever you do. Maybe you'll come back and buy it at $500k and hope for $5m. And guess what, Bitcoin will go even beyond $5m. I'd say $500m would be a realistic price for one bitcoin.

Just liston to Michael Saylor and have faith in satoshi and the white paper. God bless.