Quote:
Originally Posted by valuemkt
The Greater Fool Theory is the idea that, during a market bubble, one can make money by buying overvalued assets and selling them for a profit later, because it will always be possible to find someone who is willing to pay a higher price. And Bitcoin isnt even an asset, unless you thought a Tulip was an asset in the 1600s. With Crypto exchanges declaring bankruptcy and halting redemptions, perhaps reality is setting in .. SELL SELL SELL .. but to whom ?
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It could be like that....but it could also be like trading currencies. The nice thing about bitcoin as a currency is that the government can't decide to print more. The number of bitcoin is fixed. So like in 2020-21 where they created 1/3rd again as many dollars as we had before...well with bitcoin you can't do that. The problem with creating more dollars is that you just might end up with inflation (oops!).
Now bitcoin has been a lot more volatile than (a lot of) other currencies over the years but it may settle down and become an actual thing. And then you might just wish you had some. Or maybe it'll go to zero, who knows?
And with that I'm off to buy some $4.35/gal gas!
Joe