Bitcoin is dead...

[d08]

Not really, a lot of people have to use the public library internet. You're not speaking for everyone, which I'm sure you already know this... Even then, nowadays it's extremely easy to get a smart phone. But I do agree that some places won't be able to have it at all.

Are you talking about the wealthiest countries? I thought we are talking about poor ones. You can dream about using the internet in a public library in these for free. In some if you offered free internet, you'd have a queue at the door.

Ever heard about borrowing a friends computer? Using a friends cellphone? It's pretty funny how I need to explain this, you must have been pampered your whole life.

Fair enough. But let me tell you in the poorer countries, no-one will lend their phone or computer for free. Everything is a business. If it's that easy, why do you see cybercafes everywhere in the poorer countries? It makes no sense if they could just borrow a phone or a PC, why pay for it?

I don't know if you've lived near the people you speak about but I'm guessing not. Things just don't work as you describe. I'm not against cryptos but the practicality points you point out just are not there.

 

[Trader Curt]

Are you talking about the wealthiest countries? I thought we are talking about poor ones. You can dream about using the internet in a public library in these for free. In some if you offered free internet, you'd have a queue at the door.



Fair enough. But let me tell you in the poorer countries, no-one will lend their phone or computer for free. Everything is a business. If it's that easy, why do you see cybercafes everywhere in the poorer countries? It makes no sense if they could just borrow a phone or a PC, why pay for it?

I don't know if you've lived near the people you speak about but I'm guessing not. Things just don't work as you describe. I'm not against cryptos but the practicality points you point out just are not there.

Well in my experience with other countries, people go to a small town for internet. And we can go on and on about how poor of a country it would have to be for Bitcoin to be completely useless. And it will be useless in some areas, there's no doubt about that. But it will definitely help out more areas where the economy is striving. I'm sure you already know that right?

 

[HolyGrailSeeker]

In the history of mankind no easily made or replacable product without copyright protection ever kept its high value for a long time. Bitcoin will not be the first... It is Pokimon for the millenials...

Samsung S10 will have a built in crypto wallet.
So yeah, you the individual think he knows better on crypto adoption then the leading smartphone company...hmm...

 

[Pekelo]

Samsung S10 will have a built in crypto wallet.
So yeah, you the individual think he knows better on crypto adoption then the leading smartphone company...hmm...

1. Crypto in general =/= bitcoin only.

2.There are hundreds of failed products of big companies so yes, me the individual can be right against them.

3. My statement was about PRICE, not existence.

4. You still haven't refuted my statement, nor brought up any valid argument against it.

Care to try again?

 

[HolyGrailSeeker]

1. Crypto in general =/= bitcoin only.

2.There are hundreds of failed products of big companies so yes, me the individual can be right against them.

3. My statement was about PRICE, not existence.

4. You still haven't refuted my statement, nor brought up any valid argument against it.

Care to try again?

1. So are you saying crypto will survive but bitcoin won't? Cause more the likely bitcoin will be the one to stay. I can see it losing more of its market share but it will still be the top few.

2. Yes. But you are going against the odds that you are right. More than likely the big company will be right a higher % of the time if not it won't have survived to become big.

3. Bitcoin has been around for 10 years and although its volatile its still increasing in price overall..

4. How is it bitcoin is easily replacable or made(According to you) when there are only a fixed amount of bitcoin?

 

[Pekelo]

1. So are you saying crypto will survive but bitcoin won't? Cause more the likely bitcoin will be the one to stay. I can see it losing more of its market share but it will still be the top few.

2. Yes. But you are going against the odds that you are right. More than likely the big company will be right a higher % of the time if not it won't have survived to become big.

3. Bitcoin has been around for 10 years and although its volatile its still increasing in price overall..

4. How is it bitcoin is easily replacable or made(According to you) when there are only a fixed amount of bitcoin?

1. My post didn't say anything about the future of cryptos, except that their price can not be maintained that high (because of competition, dilution, and exchangability). But yes, there will be cryptos around for the time to come, way too many. (thus no sky high prices) Bitcoin will be one of them but not necessary the best or most often used or highest priced.

2. Board decisions can be just as stupid as individual ones. But then again, I didn't criticized them for having a crypto app. That remark was completely offtopic on your behalf.

3. People buying it at 19K would like to disagree with you. In 2017 it became a worldwide phenomenon but once everyone bought it and their moms, price returned to normalcy.

4. The existence of other cryptos make bitcoin: not unique, not limited, not irreplacable, not the best, not necessary the most used. Because of these things, there is no reason why it should have an overly high evaluation. If it was all of the above, you would have a point.

 

[dealmaker]

"

https://twitter.com/x/status/1100031012720046085

"

 

[Trader Curt]

Oh silly Warren Buffet...

 

[HolyGrailSeeker]

1. My post didn't say anything about the future of cryptos, except that their price can not be maintained that high (because of competition, dilution, and exchangability). But yes, there will be cryptos around for the time to come, way too many. (thus no sky high prices) Bitcoin will be one of them but not necessary the best or most often used or highest priced.

2. Board decisions can be just as stupid as individual ones. But then again, I didn't criticized them for having a crypto app. That remark was completely offtopic on your behalf.

3. People buying it at 19K would like to disagree with you. In 2017 it became a worldwide phenomenon but once everyone bought it and their moms, price returned to normalcy.

4. The existence of other cryptos make bitcoin: not unique, not limited, not irreplacable, not the best, not necessary the most used. Because of these things, there is no reason why it should have an overly high evaluation. If it was all of the above, you would have a point.

There are like 3000+ cryptos around but only bitcoin and a few others have a significant market cap. So your point about it being replaceable is moot. If its that easily replaceable it would have been replaced in its 10 years history.

19k seems expensive now, but it will seem cheap when prices skyrocket to 100k. It serves those people right then for actually buying it that high during the mania with no stoploss. Extreme losses are not exclusive to crypto and can happen with stocks too like in the dotcom bubble. If you compare which is the highest appreciating asset of all time, it is still bitcoin from 6c in 2009 to close to 4k 2019 with a total of 68b market cap. 68 billion market cap is by no means small.

Against your personal reasonings and theories on why the price can't remain high for long, bitcoin is still 1) 68 billion market cap which is large. 2) Been around for 10 years. Which both contradicts your opinion.

 

[Pekelo]

1. your point about it being replaceable is moot.

2. 19k seems expensive now, but it will seem cheap when prices skyrocket to 100k.

3. Been around for 10 years. Which both contradicts your opinion.

1. Nope. If bitcoin disappeared tomorrow (let's assume holders would get a cash value) nobody would blink an eye because there are 2999 other cryptos to take its place. And by the way assuming you believe in capitalism, shouldn't the best product get to be the most popular and most used eventually? And that ain't bitcoin... After 10 years they couldn't even release a non-beta version yet...

2. OK now you are dreaming.The bigger the price the more money it needs to feed the miners constant selling of new coins. It works like a ponzi really, it needs constant (and bigger and bigger) money inflow to keep it from collapsing. But the point here is really that it is an investment vehicle for you and not a currency.

3. So is Litcoin and another 2 dozen coins. That doesn't mean that those coins are the best for the CURRENCY role, you know, the major reason why they were invented in the first place.

So let's go back to my original argument, and name in the history of mankind ANY product that kept its value or increased it, in the long run while it was easy to make and easy to replace. No such a product has existed yet, and bitcoin won't be the first.

But hey, maybe Manero.

In a way Bitcoin is like Tesla stocks, the valuation goes against any logic, but eventually gravity will win.