I see the greater fool being those who hold the wealth in fiat and things that are valued by fiat.Understanding What Determines Bitcoin's Price
Unlike investing in traditional currencies, bitcoin is not issued by a central bank or backed by a government; therefore, the monetary policy, inflation rates, and economic growth measurements that typically influence the value of currency do not apply to bitcoin. Contrarily, bitcoin prices are influenced by the following factors:
- The supply of bitcoin and the market's demand for it
- The cost of producing a bitcoin through the mining process
- The rewards issued to bitcoin miners for verifying transactions to the blockchain
- The number of competing cryptocurrencies
- The exchanges it trades on
- Regulations governing its sale
- Its internal governance
The problem with Gold and Silver is that very few people have the actual gold or silver themselves they have a computer entry or a piece of paper that says they have an entitlement . Not your vault not your precious metal
