Is there any reason why there is a very low chance of permanent loss or loss lasting more than 4 years? Any fundamental reason
?
I have explained my reasoning in the first post. Value is subjective, you may disagree with me on bitcoin’s value which is why market trades happen. The best way of resolving disagreement in valuations is by producing results. In the case of Bitcoin, the results are in front of you. Bubbles don’t fall by 80% and keep coming back. Not once or twice, but four times, with each low significantly higher than the previous one?
Bitcoin doesn’t have any intrinsic value, so I dont see why it can’t go down to zero or what if governments makes it illegal to own bitcoin - isn’t it all over?
You are expressing two incompatible viewpoints simultaneously. If it is worthless then why is there a need for governments to come together and collaborate to make it illegal? Aren’t you underestimating the time, effort and legal procedures required to do so, not to mention the manpower that needs to be deployed worldwide to implement the ban? Isn’t the core belief of this forum that over long term market price tends towards the value of the asset?
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