(8 ) Every day we go lower, there has to be new sellers selling a growing number of coins to satisfy even stagnant demand. I would not bet it happening indefinitely.
You are ignoring my point about marginal supply and demand sets price.
We can't use fundamental demand arguments during a speculative move.
The lower the price goes, the more panic selling among those who bought at higher nosebleed levels during the 2013 bubble.
At what price did the huge surge in new buyers come last year? Looking at a volume x price chart from 2013 should tell us where the bottom should be.
Because price is now low, people are making this supposed loss of fungibility a big issue, as if it was the end of everything. We have been dealing with this kind of legislation in the PM industry for decades and it is not a big deal. It is not the reason why PM's are not practical to be used as money.
Sure you have to pay taxes on gains, but the fact that you have gains should be the interesting thing here. Even if there was a blockchain-level registration of all your bitcoins, and requirement to keep track of the cost basis of every satoshi, you would not even notice given proper software. This ruling is the beginning of all good things bitcoin, except the loss of anonymity which wasn't there to begin with.
Besides I am sick with this US-centricism. There are 220 other legislations out there to choose from if you don't like the ruling. In my opinion it was very reasonable and I can only dream of 18% cgt rates here..
Sure you have to pay taxes on gains, but the fact that you have gains should be the interesting thing here. Even if there was a blockchain-level registration of all your bitcoins, and requirement to keep track of the cost basis of every satoshi, you would not even notice given proper software. This ruling is the beginning of all good things bitcoin, except the loss of anonymity which wasn't there to begin with.
Besides I am sick with this US-centricism. There are 220 other legislations out there to choose from if you don't like the ruling. In my opinion it was very reasonable and I can only dream of 18% cgt rates here..
You ignore and did not address the point.
Bitcoin will continue to have value because it is an ignorance bubble among white male fanatics. It will also have value because it is the liquid backbone of exchange for an ecosystem that will solve the above problem with altcoins that are superior to Bitcoin. Bitcoin will also grow in value because it is the NWO coin and the governments are going to be promoting it and the institutional players will chime in with government compatible offchain services that eventually get the blessing from the government and exclusions to tax hurdles in order to increase mass adoption. At that point, Bitcoin will be effectively a fiat system. Any way, Bitcoin is already controlled by a few people.
Bottom line is Bitcoin will bottom and then the price will go up again. It is an investment but not a solution to what we wanted idealistically. But it is a necessary stepping stone.
do i think 9/11 was an inside job? yes. herp.
do i think there is a a super secret cabal in charge of the whole world. no.
the truth is likely far more mundane than the hollywood NWO scenario.
some powerful/rich guys sometimes do some really bad stuff to stay in charge/rich. its always been like that. just the same as there have always been other guys who think they are super genius for figuring that out. it's not 'breaking news'.
do i think there is a a super secret cabal in charge of the whole world. no.
the truth is likely far more mundane than the hollywood NWO scenario.
some powerful/rich guys sometimes do some really bad stuff to stay in charge/rich. its always been like that. just the same as there have always been other guys who think they are super genius for figuring that out. it's not 'breaking news'.
Those bad guys wielded widespread power to pull off what they did and get the entire world to change into a police state against terrorism, yet you attribute relative impotence to them.
Have you not seen the billboards for example in London urging citizens to report anything they see, because of the threat of terrorism. Have you not traveled and seen that nearly all public venues (malls, airports, etc) have security guards that have hissy fits if they see even a hang bag laying unattended.
Or I guess that global coordination was just a random outcome.
occam's razor is a cool tool