Calling bitcoin "digital gold" is such an undervaluation for bitcoin. I don't think people realize there will come a time, when everyone in the world will rely on bitcoin, and it will be impossible to make more of.
Time factor + Price variation + High demand (TPH) = Impossible to make more of it.
Sometimes it looks weird seeing people undervaluing bitcoin, though it's just their knowledge and I wouldn't take it as an offense till they get to know the importance of it maybe when it's no longer possible to get more of it.
Demand has to catch up with price, and you are correct that perceived value has to catch up too.
Just because bitcoin has an addressable market and monetary capacities that cause it to be around 1,000x or more valuable than gold, that does not mean that we wake up tomorrow and BTC prices are $900 million per coin. It takes time to get from $100k per coin to $900 million per coin, just as it has taken nearly 16 years for bitcoin to get from $0 to $100k or maybe more realistically (let's not count the first 3 years) nearly 13 years for bitcoin to get from $5 to $100k per coin.
Yes you are very correct!
But Let's consider some factors that surrounds bitcoin currently and the reason for the exponential growth above expected, and if we say it would take time then it's not getting the attention needed and to me which I think as days passes by the more visible and known (more demand increases, more people acquires it) if it took up to nearly 13 years as you said then I would say due to the rapid interest in some institutions and such as blackrock, fidelity and couples with the just elected Us president who is now bitcoin friendly wouldn't take much time for bitcoin to double it's price on a shorter range, do I say we forget about the ETFs as well? No!
All these will sharpen the edge of bitcoin for faster rise above the 13 years past. Maybe in less 5.9 to 6.6 years Bitcoin would gain the price and the attention it never gained since everly created.
To sum it up; the past 16 years was a year of seeking for attention, now it has gained the attention required and it wouldn't take that long for incredible things things to happened. Therefore I am on the hodl lane.
I don't mind your seemingly bullish sentiment, but you are seeming to suggest that I am not bullish enough in my characterizations of where we are as compared to where we might be going.
You are not saying that we are going to arrive at $900 million per bitcoin in the next 5.9 to 6.6 years, are you?
Even if we look at 2012 until now, and going from $5 to $100k in 13 years, that is a 20,000x price appreciation. You are not suggesting those kinds of 20,000x levels of price appreciation in the next 5.9 to 6.6 years, are you?
My personal view is that even with the various new bigger and BIGGER entrants into the bitcoin space, we are still likely going to continue to have diminishing returns each cycle.
Sure we might experience higher returns this cycle as compared to last cycle (the 2021 cycle), but I have difficulties imagining that we would have higher returns for this cycle than we had in 2013 or in 2017.
2013's returns were around 100x and 2017 returns were around 78x and 2021 returns were around 16x.
Sure no problem to get returns somewhere between the 2017 and 2021 level of returns.. which if we use $27k as our jumping off point for this particular cycle, then maybe we could consider that range to be anywhere between $432k to $2.7 million for the top of this cycle. Is that what you are suggesting? I would proclaim (although a bit of a simple proclamation) the lower end of the range seems much more reachable for this cycle as compared with the top of the range.. Not impossible to reach various prices with the range, but not likely, and even the lower end of the range seems a bit overly bullish, even though sure it is possible to happen in this cycle.... perhaps even having odds that are 15% or greater to reach the lower end of that particular price range?
~snipAllow me to post in advance, looks like we will be back soon...
That bird... (is it a penguin?) is going the wrong way.
~snip Yeah we're pretty much headed sideways
At least you got the direction a bit MOAR better. Yet, I have a request: Could you slant that widdo blue bird a wee bit MOAR UPpity? And, stop tryin to ruin'in dee moo.
And by the way, your spelling sucks... I mean.. Have you ever seen a
BTC looking like that?
I did have a version pointing upward and to the right but it didn't seem realistic - we are going sideways - so I had to flatten the trajectory but it is going right which everyone knows is the right direction, right? I'll tilt it upward Sunday evening
As for my spelling:
If I'm being totally honest, I've never seen a penguin riding a bitcoin with flames shooting out of it before but then I've lived a somewhat sheltered life.
Ah crap. I've been duped!
These pudgy penguin gifs are NFTs on the ETH blockchain. That little bastard penguin is literally and figuratively riding on the back of 100K BTC - no wonder he was going the wrong direction. I'm done manipulating pudgy penguin graphics so there will be no tilting forthcoming.
If anyone was really looking forward to the tiltening today, please accept my humble apologies.I will admit that I was waiting, but your investigating encounters of shitcoins relieves you of any furtherance of such.... and thanks for doing that investigation.
Maybe "we" have to remember to blame Sanitough for submitting that propaganda piece? Can "we" forgive? I am not sure...
