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$BABA got murdered today. Buy, hold, or sell?
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My dumb guess
People growing up in the digital world see as much value in gold as they do in a digital version of it.
There is only x amount of Bitcoin. Each one that gets bought and lost/held is out of the market reducing the supply and therefor increasing prices
KPMG2, if that starts happening more and more people will be packing “that thing” on them. And the legal system will definitely come up with a viable solution to bolster people’s security.
Subject Expert
https://docs.google.com/document/d/10xWjr7NlpPq3DxMGccRprzKzqa8Cb8k922OFb0TaOao/edit
Mentor
This was really helpful to read and will check out the videos as well.
Mentor
"Btc price too high" Elon Musk
Agree with principal 1, would just add, there is value in the technology. But that's not driving the value right now which is based on market forces, rather than the comparative value of Bitcoin (as a technology) to traditional currency. There may be some people buying it for that reason but that's not the market driver.
BITCOIN is the only asset that is truly finite. Elon is going to dig up gold in space.
A currency, whether gold, big huge rocks, tulips, or fiat, is only valid when a number of people are willing to use it as a thing of value to transact trade. With investment banks, company treasuries, governments and some employers buying in, cryptocurrencies seem to be reaching a widespread adoption that might tip them over the edge into just another currency option.
Nothing but hope.
Surplus money pumped into the system. More bulls case imo when the money multiplier increases back to pre covid level. Thinking back to hundreds of years ago, there were no industrial use of gold, it was viewed as money only because its durable, easy to divide and scarce. Bitcoin has all those so I can totally see why people would follow it. But ultimately i think surplus money is the deciding factor. Biggest risk to Bitcoin is obviously regulation or improved technology and calculation capacity that can decipher bitcoin’s calculation logic.
I don't really believe in it, but I think though other people do that it will continue to rise over the next few years. I have enough just enough invested they I won't lose sleep if it drops 80% but if it doubles I can finally splurge on a new ATV.