Topic: How "Escalator" and "Elevator" be compared in an example about Bitcoin? (Read 216 times)

Don't say that, Bitcoin used to be less than a buck when launched but is currently trading at $3365 (at the time of writing this), though it came down from an enormously high valuation of $20k but it reached there at least. Why not in near future? If BTC goes back to that level (with stability of course), alts will follow back and we were almost nearing $1 trillion market cap before the freefall began early 2018. I would like to see it reaching$1 trillion in global (full) crypto market cap instead of just for BTC alone.

Read the original topic again, we arent taking about bitcoin recovering but debating on the elevator or escalator price growth rate of bitcoin which is more favourable.
Also my stay in crypto have made me realise anything is possible. I said for bitcoin to rise and decrease at a steady rate it needs a high market cap that's why i said a market cap of $1 trillion could do the trick.

A market cap of $1trillion how realistic  do you think that can be in the nearest future considering the current amount of the market cap and also in my opinion the market cap don't have to reach that amount before bitcoin recover

Eh, I'm pretty sure even the most hardcore hodlers still spend every now and then. I think the issue is that it's not as straightforward as swiping your card or using Paypal, which deters the mainstream from using it, which, in turn, deters merchants from accepting it. This should get better with time though, as information slowly disseminates.

I think the major problem and reason why the bitcoin seems to be having a sort of stunted or stuttering growth is down to how it's being used,bitcoin has a purpose to fulfil,and that's the purpose for it's creation which is to be used for buying and selling.
But a lot has changed and now it's use is more for buy and hodl.That way there is less adoption and more volatility which makes its growth staggered to an extent

The reason for its very high volatility is because it hasn't really gotten that much need adoption by many. so it seems so easy to manipulate its price to the whales' gains.
But then again, the high volatility is a blessing in disguise for smart traders.

I would rather go for volatility for my short trades than have to wait for years of BTC to rise from $3000 to $4000... Like you said what goes up must come down... Even the steady rise leads to a steady fall. Now here is where strategy matters. HODLing Vs short term trading.

Progress would be made when the price consolidates and gets to it's actual value or a close range around which it fluctuates, rather than steady drops and pumps, for this to happen it has to lose its speculative value and be tied to actual products and services rather than fiat.

Bitcoin is still small when compared to gold and USD in circulation.  BTC only has a 60billion marketcap which is nothing when compared to global finance. Jeff Bezos has a higher net worth than the total marketcap of bitcoin and he is only one person.

In India (where I live) and many different countries, Elevator means a lift to take people to upper or lower floors. I didn't say that anything is small in Bitcoin, BTC is something too large a thought anyone can ever have in their mind. I've used the terms very carefully, I never knew that I'll also need to demonstrate the meanings country-wise.

In England "elevators" are blocks that you put in shoes to make small people look taller. There is nothing small about Bitcoin.

For your money making purposes, I believe we've now got Futures and soon, Bakkt will also join the line in providing higher liquidity to this and many more crypto-assets. I'm not saying that Bitcoin's price increase is something I'm against of, but I need it a bit steady rather than gaining everything overnight (Bitcoin took less than a year to gain more than 20x) and I know that many stocks and assets gave even greater returns than it, but for Bitcoin to be one of its kind styled masterpiece, it should be liked as well as used by everyone. For that, I don't really see why anyone would not agree with steady gains. You're right that it gains very quick and we should enjoy this elevated volatility in the velocity, but then they aren't gains alone and we also see the price correct much more quicker than the increase. I'm not saying that Bitcoin should not make a new ATH, but making steady gains like $100-$200 increase in value every month is fine than going straight $500-$1000 up and then everyone talking about bottoms below $1800. Just think, you've got a chicken that gives golden eggs everyday, would you enjoy selling them at a steady pace and earning through that chicken or would you just cook that chicken and eat it out?

It's going to take a long time before bitcoin price growth looks like that of an Escalator, maybe a market cap of $1 trillion will do the trick. One of the major driving force of bitcoin is the potential price increase. The blockchain technology can be implemented in several ways but the potential price increase of bitcoin is one of the reason bitcon is still the most popular cryptocurrency so i won't advocate for an escalator growth yet. Its still a new technology so lets give it time and enjoy the elevator growth rate while it last.

The rapid ups and down is what keeps bitcoin very active and fun. As an investor, I don't think I'm ready to give that up yet if i wanted to invest in an escalator growth commodity i go for gold

Bitcoin, a cryptocurrency which started working on the underlying technology of Blockchain had since been used more as an asset over technical aspects. What we've been seeing is BTC had been experiencing too many pumps and dumps which were so quick in times that it made BTC look as a bubble every time it came down.

Man, then what has it to do with Escalator and Elevator?
Well, let me explain:
Elevator (or in simple words, a lift) goes up so quick it makes us reach our destination a bit faster and it has floors to be reached, the same speed applies downside as well and the momentum is much higher compared to an Escalator (or walking stairs) which takes persons towards up and down but at a stable and slow speed. It gets us to our partial goal at a lower speed and the same applies to coming down with it. Bitcoin should be an Escalator instead of an Elevator, which if seen through my views, can grow slowly at a steady pace and even if it comes down, the velocity will remain the same (or even less) due to more and more time taken to reach there whilst if it keeps going high quick just like an Elevator, it'll come back down at a higher speed and if you want an example, 2018 suits to be the best fit here. It follows the rule of Newton that whatever goes up, comes back down for sure but here I'm talking about the velocity and how it can actually change everyone's views on how to stop thinking that Bitcoins is just a get rich quick scheme and save themselves from getting rigged of such situations many traders are facing after last year's revenge from markets' end.