When will all crypto collapse?

The great recession that wasn't supposed to happen, (surprise), is happening. Enjoy the discounts!

If this turns into another GREAT Depression, then double-down on those who are too big to fail.
 
No but 95% of the shitcoins will disappear which is a much needed cull in the space. For those that offer real utility I see it as a chance to load up my bags with risk capital for cheap.
 
NoahA said:
You keep asking what bitcoin is worth, and I'm asking you what is a stock of a company worth. Is Tesla worth $182 per share given it has a PE ratio of 56? It doesn't matter what you or I think, all that matters is someone is willing to buy and sell at $182.


Once the theory turns into practice, I think the price will be an order of magnitude higher.

I do agree that we probably need some major event to really get the general public to distrust what the governments are doing with fiat. Its not enough that they openly steal from us through inflation, but since their options are limited now given the inflation, interest rates, and debt, I don't imagine its too long until this major event happens.

I know bitcoin is very volatile now because its still so new. Not many people understand what it is and why its important. But once it really hits most people, I think a 100x from here will easily be in the cards.

Its pretty simple to me... how badly do people want to use a medium of exchange that cannot be manipulated by any party? When you realize how screwed over you really are, from the so called elected officials, you will run to something that they cannot control. Look at the movement by women who believe in reproductive choices to prevent the governments from having a say on whether or not they can have an abortion, and hence a say on what happens to their body. This is exactly the same thing when it comes to money. We want to make sure that our hard work to earn a wage is protected from devaluing, protected from confiscation, protected from random seizure by banks or government officials, and the list goes on. These days, you can't trust what you read, you can trust the news you see, you can't trust what your government tells you, you can't trust health experts, you can't trust your spouse or partner, and this list also goes on. With bitcoin, it provides this level of trust for the thing that practically matters the most after your health and happiness.
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Your rationale for holding BTC might be a minority view. I think for many, it's still all about speculation (NGU/get rich quickly).

I recall you saying you invested in silver after the GFC, presumably for similar reasons. I bought into that same narrative too, which turned out to be a very poor investment.

Personally, I can't see BTC changing from being a speculative asset any time soon. The idea of the general public sheltering their wealth in it is a long way off.
 
Ed48 said:
Your rationale for holding BTC might be a minority view. I think for many, it's still all about speculation (NGU/get rich quickly).

I recall you saying you invested in silver after the GFC, presumably for similar reasons. I bought into that same narrative too, which turned out to be a very poor investment.

Personally, I can't see BTC changing from being a speculative asset any time soon. The idea of the general public sheltering their wealth in it is a long way off.
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Good memory. I think with precious metals, the problem is that they are highly manipulated. Too much of paper gold and paper silver. Its not much different actually than what just happened at FTX. 80k bitcoins were on the books that customers supposedly had, and yet FTX owned only about 1 bitcoin. This means that none of this buying hit the actual market and no supply was used up.

The simple fact that bitcoin is mathematically limited, and that every single one can be accounted for is a huge leg up on precious metals. I still have the silver and will sell it on a pop, but just having to lose so much on the spread is gonna be sad. With bitcoin, the ability to transfer so cheaply and quickly is yet another benefit it has over precious metals. I do read articles that central banks are still buying lots of gold, so who knows, maybe someone will announce a peg on day in some country, but the future is digital, and the crypto space is really where you want to be I think.
 
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