zlacker

>>JumpCr+(OP)
It will be back up next week

>>b3ing+XN1
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?

>>acdha+oO1
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.

>>sph+mR1
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.

>>bodiek+HB3
The other thing I see is that only existing holders have much loyalty to that particular blockchain. Nobody else has a vested interest in using their funds to re-inflate the net worth of people who bought Bitcoin before them, and it’s easy to create a new blockchain where you’re not buying at a disadvantage.