[saalweachter]

One of the infuriating things about Bitcoin is that there's no reason 19K couldn't be the new normal. You don't have to trade in whole Bitcoins, so high prices just mean people trade in smaller fractions and low prices just mean people trade in higher numbers, unlike a stock where you might want to do a split to make it easier for people to invest.

[empath75]

There’s no reason $19 couldn’t be the new normal either.

[saalweachter]

Nope!

That's the exciting part of an asset with no fundamental value.

[mrhappyunhappy]

Wrong. Bitcoin has a lot of fundamental value - value in scarcity, future price projection and potential to become better via cheap and fast transactions. Those who claim Bitcoin costs a lot to move clearly hasnt used a segwit address. Once segwit is adopted across the board mempool will clear.

In fact, Bitcoin has so much value that 5 years from now 19k will look like bargain of the century. People just can't seem to see the true potential of Bitcoin and ultimately blockchains.

[asciimo]

You can use US dollars to wallpaper your bathroom, for example.

[saalweachter]

USD aren't valuable because they have a fundamental value, either. Personally, I think the "you have to pay taxes in USD" argument is stupid; it doesn't factor into my daily thinking and I doubt it does to many other people's.

They're valuable because literally everyone I interact with treats them as if they were valuable. If that changed, I'm sure USD would quickly become worthless.

You can say there's no difference between USD and BTC, but there's some difference between "a million people think they have value" and "three billion people think they have value".