Tom lee says 500k for bitcoin....tulip mania is just beautiful, isn't it??

Baron said:
Who said it had to have intrinsic value and be a main source of monetary transactions? I hope you realize that BTC can continue climbing upward without either of those characteristics. I mean, look how far it has come since inception already.
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So "number go up" is the reason it will continue to go up ad infinitum? That's the sum and substance of the economic argument for longer term ownership?
 
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S2007S said:
It's easy to say bitcoin will become a stable use of transactions when it's up a a few hundred percent the last handful of years but when it dropped from nearly 70k and lost 80% of its value there was nothing but complete silence in the entire crypto world. It was barely mentioned and almost all forgotten. That's going to happen again. The hype and the predictions of some even calling for a million and some fools predicting billion a coin is absolute stupidity. No one wants to agree because their shiny make believe bitcoin is going up a thousand a week!
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The same happens with the housing market. You need to start looking at bitcoin like digital property...waterfront property.
 
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Frederick Foresight said:
I don't think you know what intrinsic means.


But do tell us more about your 2008 Lamborghini. Is it orange?
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S2007S said:
I remember end of 2021 and the craziness and euphoric numbers everyone was predicting for all cryptos and nfts ....there was absolutely no one who thought it was going to collapse...and that year forbes released an article that bitcoin was headed to 400k. The same thing again is happening....this time predictions for 500k and a million or more.

It's a fairytale coin ....I will say this over and over and over again. Yes no one believes this but it carries zero intristic value and will never become the main source for monetary transactions......
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Firstly, this forum needs a multi-quote feature.

Secondly, I took that intrinsic value meaning straight from gold lol.

(it was a black Spyder)

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wxytrader said:
Firstly, this forum needs a multi-quote feature.

Secondly, I took that intrinsic value meaning straight from gold lol.

(it was a black Spyder)

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I think gold, as a store of wealth, stood the test of time somewhat longer than digital currencies created out of thin air or puzzles. So perhaps an equivalence does not quite apply. Plus it has industrial application quite apart from its use in jewelry, which will not likely lose favor anytime soon.

I don't know how to use the multi-quote feature.
 
Frederick Foresight said:
I think gold, as a store of wealth, stood the test of time somewhat longer than digital currencies created out of thin air or puzzles. So perhaps an equivalence does not quite apply. Plus it has industrial application quite apart from its use in jewelry, which will not likely lose favor anytime soon.

I don't know how to use the multi-quote feature.
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Proven store of value? Look at how much gold wealth has deteriorated against bitcoin in just 3 years! Even with the large swings, with 3k in bitcoin a few years ago your investment would be worth 40k. If you put it in gold your investment would be worth only 6k up from 3k lol. The dinosaur logo should be put on the gold chart...

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