Being trapped in nostalgia is good if we just want to see the price journey rather than seeing and comparing whether the price used to be cheap and now expensive. It is common where the market will always fluctuate but once again it is not an obstacle if the initial ideal comes to continue accumulating BTC and this is also caused by the desire to get more BTC where our position still feels insufficient to continue adding and owning these potential assets but if it is felt to be enough that is another version.
The current price can be anything - 100k or 500k.The reason we need to be certain is due to how Bitcoin grows adoption-wise each year / cycle and because of that, becomes more and more acknowledged + valued throughout the world.
Once this thought clicks - it's obvious why anybody can buy it whenever he pleases.
Yes.. anyone can buy when he pleases, yet he is likely going to be way better off to get started sooner rather than later.
Another thing, the price cannot necessarily be anything, since it is what it is, but sure, we cannot really know in the shorter-term if the BTC price might end up getting pushed down - even 50% or more or if it might go up another 5x like you mentioned.. Yet, we should not be perceiving bitcoin price as if it were some kind of a random dynamic, so if we research into bitcoin, we may well start to better understand how come it is amongst the best of assets currently available all around the world, and perhaps even the best asset.. it is not merely some random phenomena that can have random prices, even though in the short term bitcoin's price can surely deviate quite a bit, even away from fair market value (to the extent that fair market value is even knowable beyond the current price that is available). ..
We frequently will proclaim an asset to be over or undervalued, and anyone studying into bitcoin with a decent amount of time should be able to get the sense that bitcoin is generally undervalued, especially if we consider the time-value of money and how we might invest today and how that value is likely to carry forward into the future in terms of putting the value into acquiring bitcoin as compared to placing that value in some other location (or asset).
When Bitcoin rises, it really means that the dollar is going down. If Bitcoin goes to $2-million, the dollar will be in so much trouble that the whole state of the nation will have changed. Just look at what is going on in government right now with Bitcoin at only $100,000.
NOT completely. It is not that simple. Sure there is some dynamic that bitcoin's value is connected to the depreciation of the dollar, but it is also connected to bitcoin still being in relatively early stages of adoption, which gives bitcoin a greater lopsided unfair advantage in regards to exponential s-curve adoption...and so that is not ONLY because the dollar is being debased.. the dollar's debasement is ONLY one part of it.
Consider adoption also in terms of the 7 network effects outlined by Trace Mayer.
As mentioned by bestswift.. yes.. governments will continue to survive.. there is just going to need to be some back and forth adaptation that could take a while to play out, whether it progresses well in the next 5-20 years or maybe even taking much longer, such as 50-200 years... even though we cannot necessarily deny the slowly and then suddenly kinds of theses, either.
When Bitcoin rises, it really means that the dollar is going down. If Bitcoin goes to $2-million, the dollar will be in so much trouble that the whole state of the nation will have changed. Just look at what is going on in government right now with Bitcoin at only $100,000.
Nah, they will be good.They are two different worlds, and BTC would stay an alternative for everyone to use, albeit the one that is becoming better, unlike the fiat.
Sure governments will continue to survive, yet bitcoin does not exist outside of government and/or people. Bitcoin is not independent, even though it brings objective standards to various people/governmental systems.