To the people who don't think Bitcoin will go up in price with time, try to understand this:
Bitcoin can not inflate further past 21 million coins. The dollar is inflating constantly. Bitcoin, just by holding a steady value, will go up in dollar amount because the dollar is inflating into nothing. Bitcoin will appear to be increasing in its dollar amount when in reality it's simply holding its value.
It's not Bitcoin appreciating in value with relation to a steady dollar. The dollar isn't steady. It's the dollar depreciating with relation to a steady bitcoin. The dollar is a depreciating asset so it makes sense that the price of 1 BTC should go up in terms of dollars in order for a Bitcoins value to remain the same.
When you're trading alts, BTC is the 'base' and your alt is the alternate. This holds true with dollars. BTC is still the base. The US dollar is the shitcoin.
Another way to think about it is house prices. 50 years ago a house cost only 5,000 dollars. Now in today's money, 5,000 is nothing. But back then it wasn't nothing. You could get a house for that money. If the dollar held steady then a similar house today wouldn't cost 300,000 dollars. And it's not like the house you buy today is 60x bigger and better. The only thing that changed is the devaluation if the dollar, but the value is you still get one house. Substitute house with Bitcoin and that's what should and will happen.
I know this may be difficult to understand but try
You know Jamie Dimon was one of the many responsible pumpers of bitcoin right? JP Morgan has already made bank
Bentley Powell
How can you look at the chart and unironically still believe what you write? Can delusion be really this powerful?
Grayson White
Bitcoin still has a better track record than the US dollar, which has depreciated by 99%. Just about anything has a better track record. Dollars are unironically the worst thing you could hold
Logan Hughes
LEAVE THEM! They will cry in 2021. They will deserve it.
Brayden Russell
Then why wouldn't I just hodl something with a better track record than bit coins
Daniel Moore
Bitcoin has a better track record than any traded or recorded asset in human history considering it started at fractions of a penny less than a decade ago and goes for ~6,300 per BTC now. No recorded bubble in human history ever saw that kind of rise, not even close
Noah Rivera
And what has a better track record than Bitcoins? See
Cameron Lopez
Anything worth over ~109bn
Mason Thomas
>Bitcoin, just by holding a steady value, will go up in dollar amount because the dollar is inflating into nothing. If that's the argument then just buy stocks. At least stocks are backed by companies and dividends.
>I know this may be difficult to understand but try No. Most average normie know what inflation is. Just because you recently figured that out doesn't mean the rest of the world did as well.
Evan Collins
>No. Most average normie know what inflation is. Just because you recently figured that out doesn't mean the rest of the world did as well.
Actually no they dont, or they do and dont realize the repercussions of it. Finances are fucked all over the world, bitcoin is the real stablecoin.
what will be the point to mine if all coins were mined? who's gonna support the network?
Kevin King
If only more people understood QE, inflation, the fed's sinking monetary policies, and how BTC's exchange rate would work ceteris paribus as the dollar devalues.
they will never be ALL mined, reward will keep halving and number will approach 21 million but never reach it
hence people will be eventually mining for 0.1 bitcoin rewards and by then bitcoin will be like 1mm$
Caleb Young
makes sense
Hudson Evans
dude what do you even understand how bitcoin works?
ffs go read the white paper, or at least look at a fucking block explorer
Isaiah Bennett
same with you 24
Nicholas Bell
no need to, a good person already gave a brief answer, I don't need to go into details
Hunter Brown
that 'good' person was absolutely wrong, and you both really need to go and read the whitepaper because i traded my last spoon for bitcoin a month ago.
Anthony Russell
>what will be the point to mine if all coins were mined? bitcoin bubble will last 127 years, which is said to be around the time the last coin is being mined. current people don't think that long term since most won't live to see it.
>who's gonna support the network? it won't matter, we'll all be dead.
>because everything is the same and you can substitute anything for everything herp derp
Kayden Bailey
>you can buy things online with beanie babies >there were beanie baby ATM machines
Eli Gray
beanie babies not for weak hands
Isaac Hill
ok sir
Dylan Davis
sry did i get it wrong or something?
Oliver Butler
yes you sure did.
look im glad you all stayed around to ride the bear out but at least spend some of your time looking at and understanding the technology.
the white paper is easily accessible and will explain the error in very good detail.
Owen Edwards
can you then explain how it really goes? the bitcoin halving and all that?
Brayden Foster
also then it means that this image is also wrong ->
Luis Martinez
No, as Satoshi Nakamoto has already put it in very well defined terms in his bitcoin whitepaper, released about a decade ago now.
It hasn't changed from that day, and is accessible from hundreds of places on the internet simply by entering "bitcoin whitepaper" into any search engine.
Anthony Martin
Just a little tip, try to avoid any agglomerated pictograms without a valid source listed, or a link in the post.
Theres a bunch of people trying to steal money here.
Jaxon Powell
>Bitcoin can not inflate further past 21 million coins. *forks and re-forks your path*
