But prices are too high right now, if we can get back to the $300s at least, all my friends at school who said "bitcoin is too expensive" will think about buying again. Right now we're still sticking around $580 because of all the holders who refuse to accept a loss, but there's not much buying pressure to support it. It's simply unsustainable, imho.
Then your friends at school are complete idiots, because they can buy any amount of bitcoin they can afford. They can buy $580, $58, $5.80, hell they can buy $0.58 or $0.001 cents worth. It's all the same, it's all bitcoin. Owning "whole coins" is illusory, it doesn't exist, it doesn't even matter. Even the idea of a single "bitcoin" is simply a meaningless abstraction.
A bitcoin is simply an abstract unit of measure, with relative value that changes over time. Like the ounce is in the gold and silver world. No one goes around saying "Hey, I own X number WHOLE ounces of gold!!" No, they say "I own $6000 worth of gold."
I think they realize that, but they told me it's not fair that earlier investors could by hundreds of bitcoins for pennies on the dollar and they need to pay $580 to buy just one. So for that reason, they're going to wait until prices come back down again. And then my math teacher said that bitcoin in a ponzi scheme, and that "true value" is only $10 per coin, because he read about it on the Internet. That's just how people think, I guess.
And that's why he's teaching high school math instead of putting his skills to use in industry.
