To whoever is having doubts, remember that it's good that we're going slowly. We're probably not going to have an abrupt rise, neither the respective crash. Definitely not like the last ones. It's a different era for Bitcoin.
Move slowly and don't break things.
I guess that’s what's happening now, especially with the spot Bitcoin ETF holding a massive amount of Bitcoin, second only to Satoshi. So those days of pump and dump might be fading away. Stability is actually good for the market since it doesn’t scare off investors.
Good luck with your nonsense ideas that from here on out we are going to be "stable." I have been hearing those kinds of bullshit "we are going to be stable from here on out" statements since I first got into bitcoin in late 2013, and yeah sure there are periods of seeming stability with dee cornz, yet I hope you are not reading too much into what you believe to either be current "stability" or future stability merely because we have some rich status quo twat company(ies) holding keys for a bunch of folks who are unwilling, not ready or unable to hold their own keys.
So if that approach won’t work, how do we reach market stability? I mean,
(erase that ETFs), what can we really expect in the future to drive that massive adoption? That’s the only way I see Bitcoin evolving and not just becoming a huge pump-and-dump scheme controlled by the whales with massive holdings.
The overall sentiment is NOT incorrect.
You are correct with the implication that with the passage of time bitcoin is going to become more and more difficult to move in price, yet you realize that bitcoin is still in a battle that could take 50-200 years to resolve, and surely "stabliity" could end up happening more quickly, yet I am not going to be sitting back and either expecting bitcoin to be stable in the near future or even to describe bitcoin as currently stable, even if bitcoin is in a state that you expect it to increasingly have more stability into the future (which is likely not an incorrect assessment).
The larger bitcoin's market cap the more difficult it will be to manipulate it and to fuck around with it, but bitcoin is not even close to big enough to not be manipulated.
Think about where we are at, about 1/15 the market cap of Gold, yet we are probably around 1,000x + more valuable than gold, so that is around a 30,000x price appreciation from here, but it still might take 50-200 years or more for the market to properly price bitcoin relative to gold and relative to other assets.
It remains erroneous to consider bitcoin as if it were already a mature asset, even if more and more BIGGER players are getting involved in it (for good or bad - and probably both).
To whoever is having doubts, remember that it's good that we're going slowly. We're probably not going to have an abrupt rise, neither the respective crash. Definitely not like the last ones. It's a different era for Bitcoin.
Move slowly and don't break things.
I guess that’s what's happening now, especially with the spot Bitcoin ETF holding a massive amount of Bitcoin, second only to Satoshi. So those days of pump and dump might be fading away. Stability is actually good for the market since it doesn’t scare off investors.
Good luck with your nonsense ideas that from here on out we are going to be "stable."
I have been hearing those kinds of bullshit "we are going to be stable from here on out" statements since I first got into bitcoin in late 2013, and yeah sure bitcoin is continuously growing in its adoption and various network effects, and yeah there are periods of seeming stability with dee cornz (and likely going to continue having periods of stability), yet I hope you are not reading too much into what you believe to either be current "stability" or future stability merely because we have some rich status quo twat company(ies) holding keys for a bunch of folks who are unwilling, not ready or unable to hold their own keys.
Show me one asset that is "stable"
Anyway, considering every (other) financial system on earth has inflation built in, and obeys to the law (or myth?) of infinite growth, can any "stable" asset even exist?
I am not personally giving up on the idea of stability, even though I guess I am triggered when those kinds of claims are made about bitcoin in current times, like wishful-thinking assertions.. wish stability into existence? is that the goal?
I agree with your overall assertion that assets and currencies are always going to be in flux relative to one another, yet there still can be times of relative stability - even though bitcoin is likely not at such a status, yet bitcoin is likely to become more and more stable with the growth of its market cap even though bitcoin is also designed to pump forever, but it becomes more and more difficult for bitcoin's price to move around as much the larger that it gets.
Personally, I have previously asserted that bitcoin will likely start to feel more stable when it is advancing between 10x and 1,000x gold's market cap, as compared with today. Even today is likely less volatile than what bitcoin was 10 years ago or even 5 years ago, and surely bitcoin will likely retain more volatility when it is around 10x gold's market cap as compared to when it is 1,000x gold's market cap.. not that we are going to be around to witness the higher end of these prices.. even though we cannot really know for sure since some of the more advanced bitcoin prices could end up happening faster than expected, especially at the lower ends of the spectrum such as 10x gold's market cap as compared to 1,000x gold's market cap.
Second, how can one even expect that Bitcoin will be "stable" in terms of $USD?
Maybe we would not be measuring bitcoin against USD? Sure it is possible that USD is going to remain our most commonly referenced fiat since it seems to be the less worst of the fiats, and the milkshake theory still has the value of the other fiats flowing into USD before flowing into bitcoin.. so measure your value in terms of hookers, lambos and blow.. and perhaps some other consumption goods and/or services.
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It just can't. It can only seem "stable" at a value of millions of USD, because fluctuations would seem smallish and you would have to zoom way out on the Y-axis.
EDIT: Oh, and did i mention scarcity already?
In accordance with Gresham's law, of course value flows into the soundest of assets and Bitcoin's scarcity is a part of that formula... word just has to get out, and sure word is already getting out.. little by little by little people are figuring out that bitcoin is the soundest of assets, even though they might ONLY consider bitcoin as number go up technology, some are also figuring out the reason behind the number go up technology to be further based on the soundness of bitcoin as a money/asset.
Show me one asset that is "stable"
Whenever I catch myself thinking that other prices seem more stable, I remind myself that stability is always relative. Something is only stable
in comparison to something else.
Under a fiat standard, it makes sense that everything appears more stable when measured in USD. But, remember that nothing in nature is truly stable. Nature does not even have a straight line. It does have cycles, though.
It seem to me that part of the reason why the 200-WMA is so comforting is that it averages out the BTC price over the previous 4 years to give a bit of a sense of stability in regards to the bottom and also an ability to see that the bottom continues to go up... even though the bottom is not guaranteed to be a bottom (not completely), and it also is not guaranteed to continue to go up.
Yet at the same time, it seems to me that a certain level of personal planning is reasonable to be based on such averaging of the BTC price over 4 years and to plan out how to treat the BTC holdings that you might have had accumulated in years past. Your milage may vary.
