> Many have forgotten why we used cryptocurrencies in the first place
I think the speculators know exactly what they’re doing. They want a speculative instrument and they don’t want a currency that people spend (creating sell pressure), so thats what these services have evolved to provide.
Bitcoin’s lack of fundamentals is the key to the narrative that it has unlimited upside. If you can remove all of the fundamentals, no one can argued that it’s overpriced.
I think the speculators know exactly what they’re doing. They want a speculative instrument and they don’t want a currency that people spend (creating sell pressure), so thats what these services have evolved to provide.
Bitcoin’s lack of fundamentals is the key to the narrative that it has unlimited upside. If you can remove all of the fundamentals, no one can argued that it’s overpriced.