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You have just described the US dollar.

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Facthunter

11,170 Posts.

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14/02/18

18:06

Post #: 31057348
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Originally posted by PPPPP ↑

I'm not invested, so don't have a barrow to push either way. Problem with BTC is how do you value it? It's backed by nothing. It costs (next to) nothing to make, it's not scarce and has no barriers to entry with a proliferation of look alikes. With respect to value, (from what I understand) you don't know the underlying value of what your buying or selling and you're a slave to momentum playing the grater fool theory that someone will buy it from you at a higher price without understanding why. Problem with this argument is that it works both ways and now fear is overriding greed. If someone can explain why BTC should sustain a rally from these levels, other than because it's traded at higher levels, I'm all ears.

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You have just described the US dollar.

Price at posting: 0.0001 Sentiment: None Disclosure: Not Held
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