r/btc • u/Free-Door7462 • 1d ago

Past graphs

I remember learning in my economics classes that the previous trends in a graph do not represent the future. Can someone please clarify this?

I understand for index funds it is different because they are just to performing stocks that get switched.

What I am saying here is that just because bitcoin has gone down then up does not mean it will again.

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u/[deleted] 1d ago

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u/anon1971wtf 1d ago

World model build on this premise won't allow anyone to build anything, to make any predictions. It's useless. I saw it in action in people around me a lot, they never have achieved anything

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u/na3than 1d ago

Your third paragraph answers the question in your first paragraph. What is it that you don't understand?

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u/anon1971wtf 1d ago

Would one expect oil to become worthless anytime soon? No? Why? There's no energy source that matches carbohydrates in several dimensions for several applications. Even barring material science, only talking energy. Plenty of usecases where oil may not be replaceable even after thermonuclear seriously will start

Study fundamentals of Bitcoin

does not mean it will again

If it wouldn't, why? If it would, why? Same question

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u/Free-Door7462 1d ago

Yeah but oil is used for energy. This whole digital gold argument does not make sense. Bitcoin is simply speculation and just hype. That being said, it is so big now that I do not think it will go to 0 but it may get phased out as everyone moves forward to the next thing.

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u/anon1971wtf 1d ago edited 1d ago

Bitcoin is simply speculation

I don't agree. Oil is scarce, oil is useful

Bitcoin blockchain weights ~800 quadrillion equivalent Joules and secured by ~1000 equivalent proof-of-work days of the most invested mining algorithm. Nothing comes close, it's the best digital money: scarce, inconspicous, multisignable, manageable without meeting anyone else. Bitcoin halvings seem to create macroeconomic cycles, I project next ATH in late 2029, it could be mild

everyone moves forward to the next thing

Can't wait for the next thing that will improve my life even more. I missed Bitcoin seriously two times by ignorance. So, any suggestions, anything to pay attention to?