Quote:
Originally Posted by dino7c
Current Bitcoin Price
25,446.76 CAD
Remember when I told you all to buy and was mocked by many...something about Pepperidge farm
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Remember when I said I'd be interested when you could actually buy goods with Bitcoin, and you said it was coming soon? How is that working out?
The difference between this and something like, say, Tesla stock, is that Tesla actually makes electric cars that people buy,, or to put it differently, there's not just theoretical value propping up that stock. Bitcoin could go to a billion dollars and it would still be based on nothing but a collective decision to attribute value to it, and unlike, say, gold, it has no intrinsically unique properties that make it more desirable than other scarce stores of value, so its
long-term viability is still unlikely.
Maybe the collective decision will hold for years yet. When one of the crypto whales decides to dump all his holdings and take cash, or quantum decryption entirely exposes blockchains to compromise, or someone invents a new and shinier store of digital value that can actually be used in commerce, then the bubble will burst. All bubbles make money for those who get in while it is expanding and out before it pops. Yay you, I suppose, buy your Caribbean island while you can.