/biz/ - Business & Finance

>>57673606

>>30240535
>see you back at 20000 sats

>>30113989
>Now that you understand why people invest into Bitcoin (most scarce asset)

People aren't "investing" in Bitcoin because of its glowing fundamentals, they're buying it because the price keeps spiking unnaturally, its a classic bubble:

>price goes up -> people buy in expecting the price to go up even more -> more people buying causes the price to go up


>essentially replacing precious metals as an investment class

Pipe dream, crypto will NEVER replace gold for the simple fact that gold retains its value even in the absence of electricity and internet. All it takes is a major ecological catastrophe that knocks out the power and wifi for crypto to be rendered useless while you'll always be able to trade gold coins for food & ammo.

Gold has a proven 4000+ year track record as a Store of Value, Bitcoin is barely 13 years old and is still considered a meme by most of the high finance establishment.

>>29748082
>there is a reason why bitcoin is ranging between $45k and $60k here and most shitcoins are not.

Is this your first bubble?

>>29313935
>Kek. If it's the best coin doesn't that make it a good long-term investment?

Doesn't understand that

>betting on fundamentals = investing

>betting on hype = gambling.

>>28781250
>BTC will (has) become the exchange-traded bait coin for airheads and Monero will continue to be the de facto king of private money.

Pretty much. Its just a matter of how long it takes for the mainstream to realize Emperor Bitcoin has no clothes.