Agree - each dip is an opportunity for a new slice of humanity to learn that bitcoin is just going to keep going up.
You refer to its "true value".. ..but there is no such thing - no number at which one could say, for reasons based on economic or physical reality, is "too high". All prices are entirely arbitrary numbers, and the price level is driven by pure speculation. These forces, which drove it from $1 to $10 are still there when it gets to $1m or $10m.
With no physical or economic reality to constrain it, the price will rise indefinitely - and probably at an accelerating rate - until essentially everyone is "all-in". That is, everyone still thinks its going up but they have nothing left to sell to buy it.
This post explains and explores: https://swinehoodsremedy.substack.com/p/on-the-fair-value-of-bitcoin-and
pseudourinidine /
npub1jh…lfgps
2024-11-27 23:59:10
in reply to nevent1q…ytv2
Author Public Key
npub1jhpnh7aedv85v09cpahjug5aa460xm5kjnntqn0v2yjwfmmtmenqllfgpsPublished at
2024-11-27 23:59:10Event JSON
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"content": "Agree - each dip is an opportunity for a new slice of humanity to learn that bitcoin is just going to keep going up.\n\nYou refer to its \"true value\".. ..but there is no such thing - no number at which one could say, for reasons based on economic or physical reality, is \"too high\". All prices are entirely arbitrary numbers, and the price level is driven by pure speculation. These forces, which drove it from $1 to $10 are still there when it gets to $1m or $10m.\n\nWith no physical or economic reality to constrain it, the price will rise indefinitely - and probably at an accelerating rate - until essentially everyone is \"all-in\". That is, everyone still thinks its going up but they have nothing left to sell to buy it.\n\nThis post explains and explores: https://swinehoodsremedy.substack.com/p/on-the-fair-value-of-bitcoin-and",
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