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by triptychs 4597 days ago
I'm interested in it's psychologically limited factors related to price "per" bitcoin... or, in other terms, bitcoin's "exchange rate".

Owning 1 bitcoin, no matter what it's worth, psychologically makes you feel poor. It's an arbitrary habit and, really, meaningless but to the average person they can't stand trading $1000 for 1-2 bitcoins. When people look in their bank accounts, they want to see thousands... millions! Not 1 or 2. Right? I think people would more likely buy 10,000 of something they perceive as a currency instead of 1.0000 -- even if through a change of "terms" they were worth the exact same in USD. Am I selling the general public short in this assumption?

(Probably not pertinent note: I sold today and no longer hold any BTC.)