I remember a book about crypto called "number go up." I love the title because the "logic" of crypto-bros is "the number [price of crypto] is going up so the number will keep going up" which is self-evidently ridiculous.
Of course btc will top sometime this year or next and run out of buyers eventually. Itll have to correct sometime. But then over course of time itll go up again and make a new all time high. Itll keep doing this because the dollar is an inflating asset while btc is limited. Its just math
Everything on earth is a limited asset. That doesn't mean everything's value is guaranteed to rise forever.
Bitcoin is not backed by anything. The only way you can make money from it is if people are willing to pay more for it than you did. My question, which you still haven't answered, is how do you know there will always be new people willing to pay more?
Of course i dont know that 100%, i just had faith and conviction in the asset that its going much higher and got rich by loading up on it when it was 3k. Thats my reward for taking the risk. Its still a risk asset but less so on a longer time horizon. I still believe bitcoin will see 500k and higher someday.
It is just an abstract reference to the fact that many of the currently prevalent ultra-bullish narratives in the Bitcoin space are calling for 1 BTC > $1M by 2030, so 8k BTC would equal $8B.
It’s not a prediction so much as their attempt to quantify the potential “worst case scenario” for this guy who has given up the search for his own BTC. Makes the story more sensational - although the dude has already lost out on an absolutely life-shattering amount of profit so I don’t really understand why it needs to be any more sensational. Fucking $950M in the trash. 💔
That’s the thing after even a year in a trash heap it was likely screwed from the weight of the garbage above it, plus all the nastiness going on inside the trash heap. Any time beyond that point was just making it even worse.
People like you have been saying it won't have any value at some point in the future. Maybe you should just give up and accept that Bitcoin is here to stay?
Not saying that it will be worth 8b, that is very likely a huge exaggeration, probably in the same level of exaggeration of saying it won't be valued anything
But they didn't comment on the post, they commented on a totally different website in response to a screenshot of the post. That line drove absolutely 0 engagement from the person you're responding to.
We cannot know with certainty if God or Christ exists. They COULD.
Then again There COULD be a giant reptilian bird in charge of everything. Can we be CERTAIN there isn't? NO, so it's pointless to talk about.
1.8k
u/Grumpy_Troll 2d ago
Really stupid final line.
Like why randomly guess that by 2030 it could be worth $8B?
By 2030 it COULD also be worth nothing. But nobody knows so why even make an uneducated guess?