Re:CBOE Will Start Bitcoin Futures Trading on December 10
by baddox on Monday December 04, 2017 @11:09AM
(#15844886)
> why would I spend this currency on _anything_, including other investments, if holding onto it is the best investment out there?
Different people value different things differently, thus there is no universal agreement on what the “best investment” is. Remember that the price of Bitcoin cannot change without both a seller and a buyer. Each bitcoin bought is a bitcoin sold. The most obvious and simplistic example of a reason people might sell Bitcoins right now is that they are hungry and want food, but that generalizes to more complex differences between individuals’ time discount functions.
Different people value different things differently, thus there is no universal agreement on what the “best investment” is. Remember that the price of Bitcoin cannot change without both a seller and a buyer. Each bitcoin bought is a bitcoin sold. The most obvious and simplistic example of a reason people might sell Bitcoins right now is that they are hungry and want food, but that generalizes to more complex differences between individuals’ time discount functions.