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.
I'm not sure that Bitcoin ever hit a point where it was relevant for the average person. In the early stages it had the potential to be a useful store of value which could be traded to buy stuff but so many people bought it up on the idea of only selling it at a higher price, that it took the usefulness out of the equation. If you have a finite supply of an item which is meant to be traded, but people start hoarding the item instead of trading it, then you have to consider whether it serves the original purpose and is worth the value that people are assigning to it. I think Bitcoin is great and serves a helpful niche, which seems to be sending over a few hundred dollars at a time across borders in a foreign exchange sort of service - it avoids all sorts of financial fees that get tacked on by middlemen. Beyond that, it does not work well in the current form as an instantaneous payment methodf that some people want it to be.