Bitcoin surpasses $50K as major companies jump into crypto

Re:Bitcoin surpasses $50K as major companies jump into crypto by colecut on Tuesday February 16, 2021 @06:53PM (#26160504)

"Bitcoin isn't a particularly good store of value because the price is driven purely by demand, which is currently in a state of market mania. It's not even the first market mania around Bitcoin. Past bubbles were also met with a "this time it's different" attitude before the inevitable sharp losses."

This is true, but the bottom at which people value bitcoin continues to rise significantly over time. Yes there are crazy bull cycles and bear markets that make the price highly volatile, but even people who bought at the absolute worst time 3 years ago, at $20k, before the price tanked by 80%, are currently nearly at 150% profit.

The price continues to be volatile yet less and less risky and overall trending upwards.

[ Parent | on HN ]

Re:Bitcoin surpasses $50K as major companies jump into crypto by noch on Wednesday February 17, 2021 @01:48AM (#26163465)

> The price continues to be volatile yet less and less risky and overall trending upwards.

Please stop telling nocoiners this arcane and forbidden knowledge! Instead, encourage them in their belief that Bitcoin is a scam, a collective delusion, a market mania, a bubble, based on nothing, wastes energy, will go to zero, and so forth.

When, in a decade, 1btc == usd1M, we'll all be grateful that such people stayed out of the market long enough to allow us to buy more bitcoin relatively cheaply.

What they can't see is that Bitcoin is now more likely inevitable than not.

[ Parent | on HN ]