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by andirk
1204 days ago
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No factors that could be considered useful analysis. Something like: since most BTC has been mined + its general popularity + its usefulness, it seemed to me to be undervalued by some 10-20x (when it was 1-3k). Similarly, when it was 50k+, it felt over valued relative to popularity + usefulness. If it becomes more useful, such as if it becomes the main currency of countries with terrible currencies, then its value can skyrocket since it will be sought after like crazy. |
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Yeah I guess we would just disagree about the probability of that happening. There are inherent technical limitations preventing bitcoin from ever reaching a high transaction volume, and I think the lightning network has its own problems, so I don't see that as a solution either. Also, since it is so extremely energy intensive, for the good of our planet's environment I hope that this misguided experiment in cryptocurrencies dies out sooner rather than later.