It’s the algorithmically enforced scarcity coupled with “to the moon” culture. That’s all that’s going on. If it keeps going up I won’t be surprised. If it dumps down I won’t be surprised.
No floor and no ceiling — only a gambler would keep his net worth tied up to crypto. You did the right thing once you crossed a threshold to significantly change your financial status. Any other decision would have put yourself in a position vulnerable to outcomes of extreme regret.
There are cryptocurrencies like dogecoin and monero that have an infinite supply and a constant production of new coins, and they still see use. So I'm not certain that scarcity is the only motivating factor.
In fact, I would think that a growing money supply is good for driving real-world usage.
Comments
It’s the algorithmically enforced scarcity coupled with “to the moon” culture. That’s all that’s going on. If it keeps going up I won’t be surprised. If it dumps down I won’t be surprised.
No floor and no ceiling — only a gambler would keep his net worth tied up to crypto. You did the right thing once you crossed a threshold to significantly change your financial status. Any other decision would have put yourself in a position vulnerable to outcomes of extreme regret.
The valuation is predicated on a market existing to provide exit liquidity. But where is that going to come from?
From new gamblers. There is some truth when BTC maxis say they’re still early.
Bitcoin was released almost 20 years ago. Early for who, the next generations?
There are cryptocurrencies like dogecoin and monero that have an infinite supply and a constant production of new coins, and they still see use. So I'm not certain that scarcity is the only motivating factor.
In fact, I would think that a growing money supply is good for driving real-world usage.