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by anonymouskimmer 1265 days ago
There are a limited number of pure collectors, or even FOMO collectors. And much of this collection value comes about through increasing limitation of an item(1), along with a population increase (making more collectors)(2), and increasing wealth of current collectors used to bid up the price on collectibles (wealth increase through means other than their collection, obviously).(3)

(1) - If you buy bitcoin now you might be part of increasing the price of a bitcoin by increasing its rarity through the means of losing your private keys. But this doesn't benefit you.

(2) - We're reaching the point where our carrying capacity is starting to hit limits. Maybe in a few hundred years we'll have space colonies to keep increasing the population, but: 1) This won't benefit you, as you probably won't be around then; 2) There will be other collectibles that the then population may be more interested in. It is the case that certain collectibles are incredibly rare (single digit numbers), but also cost less then $10k, simply because there are not that many interested collectors.

(3) - If you sink most of your investments into crypto this limits the ability of your wealth to grow outside of your collection.