[herendin]

You say you can't understand, but the chart you yourself posted (to illustrate price volatilility) also shows a 12,000% increase in price in less than 8 years, up to today.

Past performance is no guarantee of future results, but maybe that, the improbable 12000%, is the thinking that you're trying to understand?

[DebtDeflation]

That's my point - given the extreme volatility (and the fact that it was trading below $1K less than 6 years ago) why would anyone think there's some floor below which the price of BTC will never fall? Please don't bring up mining costs, which are completely irrelevant here.

[rednerrus]

You're making a stronger counter argument than you think. BTC only gets a 12,000% increase because you recruit a bigger fool to pay $16,059 than the fool who paid $16,058. The only value that you've offered here is that you can eventually find a fool big enough to pay $1,925,760.

[codehalo]

And how big is the fool who sold at $100?

[rednerrus]

Less foolish than the person bought at $69,044.77.

[codehalo]

Only if that person who bought at $69,044.77 was a fool to sell.