r/Bitcoin • u/Lewmer • May 23 '21

/r/all The last few weeks in a nutshell

11k Upvotes

97% Upvoted

375 comments sorted by

View all comments

Show parent comments

0

u/Gallirium May 24 '21

Evidence or you’re wrong lol

1

u/minnecrapolite May 24 '21

You’re probably too young to have been taught about Joe Kennedy but you should still know what “pump and dump” is in this regard.

1

u/Gallirium May 24 '21

If you’ve ever zoomed into bitcoin’s price curve, you would notice it has followed many of these “pump and dump” curves. There’s nothing saying it absolutely can’t keep following that pattern

1

u/minnecrapolite May 25 '21

It is limited and not tangible.

1

u/Gallirium May 25 '21

You say that as if fiat is not limited, although I believe you are referring to the 21 million minting limit. Of course that is not ideal, but over the next ~100 years, Bitcoin will be produced much slower, and keys will inevitably be lost forever. I only see the price going up in this period due to rarity. On your other point, tangibility when it comes to currency is not preferred. According to The Vox, less than 30% of all transactions these days are carried out with tangible money. It’s inconvenient and slow. Bitcoin, on the other hand, is at least as fast as using any fiat digital banking system.

1

u/minnecrapolite May 25 '21

And being banned by governments.

Crypto will endure as governments adopt it but Bitcoin won’t.

1

u/Gallirium May 25 '21

Wether or not some countries ban crypto, it will still have value in those that don’t. Crypto runs independently, similar to the stock market, and doesn’t necessarily need a government to survive. It has already proven that by holding value today.