Pay attention to the SP500/Dow/Nasdaq, as a speculative risk asset, Bitcoin will be making up for its outperforming everything else by outperforming everything else in the opposite direction.
The total supply of cryptocurrencies is gradually increasing as newer and newer cryptos are being created all the time. Compare this with something like precious metals, that sure can be created in labs (the common argument), but it's more expensive to create these metals in the labs than it is to mine them. In comparison, you can go copy bitcoin's code via GitHub and copy paste for free (just making a blatant statement to make you understand the difference).
It's a pyramid scheme nothing else. Bitcoin probably has value though for being a way to transfer money when other more efficient methods for some reason may not be available. People simply just trade where the excitement is, and the excitement has always been in these new speculative assets, because with one's imagination (like silly S2F models) you can put the target anywhere, literally at astronomical levels.
I leave you with one of my favorite quotes of all time by Mr. Johann Wolfgang von Goethe: “Few people have the imagination for reality.”
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As of June 22/2022 bitcoin is sitting at ~20k. After looking at everything i do believe we have one more bull run from here and we didn't top out like this prediction showed pretty accurately.
Cheers ^
Trade closed: target reached
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I believe we are going higher, this idea is being closed while this ratio is sitting at 5.02.
(i dont think we are going to zero, and u should probably be buying this bitcoin/crypto dip)
You can imagine Lightcoin is kinda a beta version, a testing playground, and Bitcoin is the stable live version, which doesn’t want to test around only use well tested and bomb secure code.
It is like also back then with VHS and Betamax, it is said that Betamax was better but VHS was just already more distributed and in use, so that Betamax head never a chance, it is the network effect.
You can imagine like you want to change all 4 wheels parallel from you car while you are driving, that is basically impossible.
When everybody uses a phone, then you will get forced to use one to, for example some bureaucracy stuff, and you can not swap to something different tomorrow.
Banks were/are using 30–40 year old pascal code, which day couldn’t swap because it was used 24/h, their only ways to add more functions was to add a second layer. Funny we faced in crypto similar problems and solved it also similar.
Thanks for your feedback. Interesting i've never heard of that law i'll check it out.
AlexC63
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The reality is that Litecoin does exactly what Bitcoin does, faster, cheaper.. Almost how Bitcoin was intended to work. That alone should make people question why Bitcoin should be worth astronomical prices.
Google Metcalfe’s law - en.wikipedia.org/wiki/Metcalfe's_law
You can imagine Lightcoin is kinda a beta version, a testing playground, and Bitcoin is the stable live version, which doesn’t want to test around only use well tested and bomb secure code.
It is like also back then with VHS and Betamax, it is said that Betamax was better but VHS was just already more distributed and in use, so that Betamax head never a chance, it is the network effect.
You can imagine like you want to change all 4 wheels parallel from you car while you are driving, that is basically impossible.
When everybody uses a phone, then you will get forced to use one to, for example some bureaucracy stuff, and you can not swap to something different tomorrow.
Banks were/are using 30–40 year old pascal code, which day couldn’t swap because it was used 24/h, their only ways to add more functions was to add a second layer. Funny we faced in crypto similar problems and solved it also similar.