Businesses need predictability in price. They need to be able to plan.

These price-swings – which just happen to prove that price movement is purely speculative, and therefore low in actual economic substance – are the nightmare of any business owner.

There are therefore only two functions left: * digital gold * actual speculative vehicle

As we are in a market economy, and nobody is going to hold you back betting on something, these are valid functions.

Unlike physical gold, digital gold has no real upwards limit. It can go as long as the tulips go. But also unlike physical gold, in a downturn or panic, downwards spiralling probably can be limitless too. I mean physical gold will never go as low proportionally.

But it’s as valid to say that that explains the incessant flow of memes about I’ll buy more, you’re stupid if you don’t, bitcoin is the best invention since the wheel, and other such things.

Bitcoin maxis need you to believe in this to pump their bags.

I will be roasted for this but I don’t care. Oh, I know about crypto since 2011, no newcomer. Can keep down the flames. I don’t really care for the attacks anyways.

submitted by /u/tawhuac [link] [comments]r/CryptoCurrencyRead More

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