Why? It’s a pure fiat currency with limited real-world adoption, what reason will people have to favor it over the alternatives next week which they don’t have today?
Why don’t you tell us, focusing on what will be sticky? For example, will wealthy Chinese people evading capital controls or Russians avoiding sanctions stick with Bitcoin at a loss?
Seems like the main reason it's gone up all these years is "Early adopters successfully evangelized to get more mainstream bigger-fools to buy from them at elevated prices".
At this point, Bitcoin is fully mainstream and the biggest fools have bought in. People hoped that the Trump election would mean a new giant pot of dumb money (government/tax dollars) would buy bitcoin, but now that they've realized Trump will just issue his own crypto memecoins that bet is unwinding.
I don't see where the buying is going to come from in the future. Every cab driver and retiree and stay-at-home-mom already knows about bitcoin. Maybe Tether prints another imaginary 10 billion dollars to buy bitcoin and prop up the price though, so it could still maintain for a while.
Why? It’s a pure fiat currency with limited real-world adoption, what reason will people have to favor it over the alternatives next week which they don’t have today?
Figure out why it has gone up and up all these years while being a “pure fiat currency with limited real-world adoption”, and you’ll have your answer.
Why don’t you tell us, focusing on what will be sticky? For example, will wealthy Chinese people evading capital controls or Russians avoiding sanctions stick with Bitcoin at a loss?
Seems like the main reason it's gone up all these years is "Early adopters successfully evangelized to get more mainstream bigger-fools to buy from them at elevated prices".
At this point, Bitcoin is fully mainstream and the biggest fools have bought in. People hoped that the Trump election would mean a new giant pot of dumb money (government/tax dollars) would buy bitcoin, but now that they've realized Trump will just issue his own crypto memecoins that bet is unwinding.
I don't see where the buying is going to come from in the future. Every cab driver and retiree and stay-at-home-mom already knows about bitcoin. Maybe Tether prints another imaginary 10 billion dollars to buy bitcoin and prop up the price though, so it could still maintain for a while.
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