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Scraped on 22/04/2025, 17:47:44 UTC
Quote from: Olamidetechie on April 10, 2025, 09:02:58 PM
Pls don't misunderstand, just an assumption: if Bitcoin were to reach $500 again today, do you think people would still be willing to buy?

In my opinion, it would have two implications. Firstly, it would likely have ruined many people's investments and life savings, considering those who bought in at $10k, $20k, or even $100k.
Secondly, it would reinforce the skepticism of those who don't trust digital currencies due to their perceived unreliability. So, if it happens, would you still buy it?

Bitcoin to drop $500? The likelihood of this to happen is very low, reason being that the demand for BTC exceeds its supply, and every slight discount in the price of Bitcoin people now see it as an opportunity so when more people are willing to buy Bitcoin than they want to sell their Bitcoin, then who sells then? The law of demand and supply is what affects the price of an asset to devalue in such a dramatic way, but Bitcoin solved the problem of increasing supply and it's limited, check every asset you know that has limited supply, Land, Gold, and rare elements etc, if their prices has ever dropped, therfore stop thinking or assuming if that's is going to happen,  The answer is almost 99% not going to happen because of Bitcoin's limited or fixed supply.
Version 1
Scraped on 22/04/2025, 17:22:52 UTC
Quote from: Olamidetechie on April 10, 2025, 09:02:58 PM
Pls don't misunderstand, just an assumption: if Bitcoin were to reach $500 again today, do you think people would still be willing to buy?

In my opinion, it would have two implications. Firstly, it would likely have ruined many people's investments and life savings, considering those who bought in at $10k, $20k, or even $100k.
Secondly, it would reinforce the skepticism of those who don't trust digital currencies due to their perceived unreliability. So, if it happens,  would  you still  buy it?

The likelihood of this to happen is very low, reason being that the demand for BTC exceeds its supply, and every slight discount in the price of Bitcoin people now see it as an opportunity so when more people are more willing to buy Bitcoin than they want to sell their Bitcoin, then who sells then? The law of demand and supply is what affects the price of an asset to devalue in such a dramatic way, but Bitcoin solved the problem of increasing supply and it's limited, check every asset you know that's has limited supply, landLand, Gold, and rare elements etc, if their prices never dropshas ever dropped, therfore stop thinking or assuming if that's is going to happen,  The answer is almost 99% not going to happen because of Bitcoin's limited or fixed supply.
Original archived Re: BTC to $500, are you still buying?
Scraped on 22/04/2025, 17:17:49 UTC
Quote from: Olamidetechie on April 10, 2025, 09:02:58 PM
Pls don't misunderstand, just an assumption: if Bitcoin were to reach $500 again today, do you think people would still be willing to buy?

In my opinion, it would have two implications. Firstly, it would likely have ruined many people's investments and life savings, considering those who bought in at $10k, $20k, or even $100k.
Secondly, it would reinforce the skepticism of those who don't trust digital currencies due to their perceived unreliability. So, if it happens, would you still buy it?

The likelihood of this to happen is very low, reason being that the demand exceeds supply every slight discount in the price of Bitcoin people now see it as an opportunity so when more people are more willing to buy Bitcoin than they want to sell their Bitcoin, then who sells then? The law of demand and supply is what affects the price of an to devalue in such dramatic way, but Bitcoin solved the problem of increasing supply and it's limited, check asset that's limited, land Gold, and rare elements etc their prices never drops, therfore stop thinking or assuming if that's is going to happen,  The answer is almost 99% not going to happen because of Bitcoin's limited or fixed supply.