Do you think Bitcoin will recover?

1 point·teslacar··9 comments

50% off the highs now

I bought at 11.000 :(

I think not. It made sense as a unit of exchange. Stripe dropping it this week is telling: "Bitcoin has evolved to become better-suited to being an asset than being a means of exchange."

What type of "asset" is Bitcoin? Does its value just reflect the cost of the electricity that went into creating the coins? If so, then we'd have a very different price dynamic. I'm calling it an irrational bubble.

I don't think it will.

* Bitcoin Cash and others have grabbed its market share through impersonation * Other coins have faster transactions with lower fees * Other algorithms have opaque blockchain for better anonymity.

Bitcoin was first through the door. They got shot.

I think so, there is a lot of negative sentiment driving the price down at the moment I believe. But after tax season and some governments around the world making decisions on exchanges and taxes I think we will see good growth upward again.

Governments can sway the immediate price by saying "We're outlawing bitcoin!" Good luck with that, btw. But they have little effect on the technology. It's supposed to be subversive, and every time Visa or Chase or governments or banks talk poorly about it, it means it's working as planned.

Couldn't agree more!

You learned a valuable lesson in investing. Consider yourself wealthy in experience.

What about people who invested in real estate in 2008 via banks, lax regulations, and trickery? What was the lesson there?

If you don't know who the fool in the market is, it's you.

Recover, as in ever be above 11,000 again? Quite plausible, though I am far from certain.

Recover, as in go above 11,000 and stay there? It might... but I doubt it.

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