A BTC "You are here..." post for discussion

you can if you're the only currency used to measure other ones

>doesn't remember the public being involved at the end of last year.

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i'm too much of a brainlet to understand half that shit but in the discussion their estimate is that the current bitcoin market is akin to bitcoin of 2014? and it will go sideways and downwards for most of this year. i can believe that honestly, especially consdering that bitcoin went parabolic exposure wise in late 2017/early this year but a lot of normies got burned and now there seems to be a big distrust of cryptocurrencies in general

I actually disagree with their conclusion about the price action (but not about where the price 'should' be). For example, in an entirely rational market, TSLA, Square, Facebook, etc. would be valued far, far lower than they currently are (even in the supposedly 'serious' stock market). My opinion is that while the network of users shrinks from time to time, the floor will continue to rise. As such, barring incredible volatility, outright illegality of cryptocurrency (i.e. people being arrested for possession), and other potential disasters like a Binance hack, the value of BTC will rise year on year, simply because its network has grown. But price drop avalanches will happen very, very quickly and be completely disastrous, repeatedly. But where people think a Bitcoin 'should' be valued will continue to have higher and higher floors.

every bubble plays out a bit differently.
due to social media and unregulated entry into crypto, some socially savvy normies got on board. however they are limited to a small number of people and even smaller relative capital.
everyone knows institutions are about to officially jump into the game. this is the tipping point for mass adoption

RETARD

actually yeah i can agree with that. the floor of network users can essentially ONLY rise because it's impossible for people to forget about bitcoin, unless something major happens as you said. even people that got burned in dec/jan that sold their stack and are currently not part of the network are still easily able to rejoin.
true. i'm sure a lot of people have heard about bitcoin but i guess it really only takes the intuitive norman to delve deeper

Exactly. It's crazy but the hodl meme might actually be true, so long as the network's net size continues to increase year on year. With BTC being added to NASDAQ soon, this will inflate its value incredibly. Not necessarily because of fundamentals, but simply due to Metcalfe's Law.

Anyone else fucking sick of this "chart"?

You can literally apply it to anything if you zoom in or out at a certain section

Fucking idiots

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will be interesting to see. on one hand i really don't know how much bigger it can get because it's already super-exponential but on the other hand the arguments for bitcoin continuing to rise in value make perfect sense

/thread

Human greed and ego will always exist so I'm confident that Bitcoin will grow based on that alone. The majority of people who gamble at casinos are well aware that the house has a ridiculous advantage but they still think that they will come out on top. Even if the odds are in favor of the whales there will still always be smaller fish trying to get the scraps. People are addicted to this and once more people realize that there is money to be made again they will fomo in even if the odds are not in their favor.

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