what happens when BTC does reach 100k? — presumably most will sell including the grifters in Miami, Dubai and so on
LOL – if you think this is true, you don't know anything about greed or emotions. (To be a bit less obscurant, I'm saying they are both either boundless or unquantifiable. There's nothing special about 100K btc, nothing more special than 69K USD BTC.)
Perhaps the author should not have chosen an exact number, but there will be a critical volume of sell-off which will trigger a further, massive sell-off from the majority token holders. The same principle that drove people to buy it in the first place will force them to sell. FOMO
If you don't think this critical sell-off volume exists, then you are the one who misunderstands greed and emotion.
I am glad someone knows what "laser eyes" mean, I did not get that reference or know that meme. FWIW, I do not have laser eyes and I would not bet against BTC reaching 100k. But that does not mean I believe BTC should be the leader or that it's the best cryptocurrency, so that is not meant as an endorsement in any way.
Great article, by the way. I have just skimmed most of it, I am knee-jerking, but my strongest impression after reading through most of it for the first time is "I'm with Keanu here" with the caveat that I do believe there are a handful of good Web3 projects out there, I'm not going to name one because I don't want to detract from your article, which is actually very good IMHO. (Edit: I guess I mean, I'm with queersamus, whose quote appears under the picture of Keanu...)
Agreed it could reach 100k - main point is that a currency needs to be spent and BTC won't be by definition because most are into it as speculation. But wanted also to say thank you - means a lot to get the positive feedback.
There's a lot of wrong ideas out there and we don't get people to have the right idea by shutting down discussion about it. I like your article better than Cory Doctorow's take, how's that for positive feedback? I'm sorry that it got flagged off the front page!
Comments
LOL – if you think this is true, you don't know anything about greed or emotions. (To be a bit less obscurant, I'm saying they are both either boundless or unquantifiable. There's nothing special about 100K btc, nothing more special than 69K USD BTC.)
Perhaps the author should not have chosen an exact number, but there will be a critical volume of sell-off which will trigger a further, massive sell-off from the majority token holders. The same principle that drove people to buy it in the first place will force them to sell. FOMO
If you don't think this critical sell-off volume exists, then you are the one who misunderstands greed and emotion.
People used to say this would happen at $1. Bitcoin price crashes every few years but so far it has bounced back higher.
FWIW I am for sure the one misunderstanding, I get burned by this every time.
Sell low, buy high – that's the name of the game isn't it?
author here - this is a reference to 'laser eyes', which means you believe BTC will reach 100k https://knowyourmeme.com/memes/laser-eyes-bitcoin-trend-lase...
I am glad someone knows what "laser eyes" mean, I did not get that reference or know that meme. FWIW, I do not have laser eyes and I would not bet against BTC reaching 100k. But that does not mean I believe BTC should be the leader or that it's the best cryptocurrency, so that is not meant as an endorsement in any way.
Great article, by the way. I have just skimmed most of it, I am knee-jerking, but my strongest impression after reading through most of it for the first time is "I'm with Keanu here" with the caveat that I do believe there are a handful of good Web3 projects out there, I'm not going to name one because I don't want to detract from your article, which is actually very good IMHO. (Edit: I guess I mean, I'm with queersamus, whose quote appears under the picture of Keanu...)
Agreed it could reach 100k - main point is that a currency needs to be spent and BTC won't be by definition because most are into it as speculation. But wanted also to say thank you - means a lot to get the positive feedback.
There's a lot of wrong ideas out there and we don't get people to have the right idea by shutting down discussion about it. I like your article better than Cory Doctorow's take, how's that for positive feedback? I'm sorry that it got flagged off the front page!
Yes shame about the flagging. And thanks!