Hacker News Reader

Yes, but there's diminishing returns as the price gets higher.

I agree there can be sometimes. But I heard the same thing at $0.01 and $1. “It’s already gone up so much.” I heard the same at $10 and $100 and $1000 and…

it also has to have any market depth at that price - you can drop the BTC price $3,000 by selling $1m worth just lately, imagine having to cash out $1b "worth" into actual money

not to mention the US miners who have a "stockpile" of $1b of BTC, apparently for every possible reason other than "actual-dollar liquidity doesn't exist to sell it without crashing the price"

“Past performance is no guarantee of future returns!”

At no time since the tulip bubble has the phrase "past returns are not indicative of future performance" been more relevant.

Ok, but if it goes up that much, why would anyone want to use it as legal tender?