A typical Bitcoiner comes home and has to explain his “another BTC investment”;
Its now less than $18k.
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You mean they invested their life savings. They thought they were going to make profit but was sadly mistaken.
I’m referring to now not when it was $30k, Once all of the greedy investors are out then BTC can be used to “Freeze” value. It’s difficult to use BTC to freeze value when lots of people are still withdrawing their money. We will get a real idea of the true BTC value when the purge is over, I’m talking a real purge, all the Do Kwon’s, all the life savings investors trying to double their money, all of them need to be removed first before value freezing can occur.
Lets be clear here the ONLY reason BTC is going down in value is because lots of people are selling, no other reason.
Once the purge is complete we should see a BTC value of around $12k to $13k and it will remain at this value until more countries adopt it as legal tender.
A worker in CAR can be paid 500, then they can buy 500 worth of BTC and store it. France will print more money for CAR that is a fact. so that same 500 the worker was paid will then be worth less unless it is stored in BTC.
The 12k to 13k price I mentioned will be stable because there will be no one left who is withdrawing BTC, remember it is the act of selling BTC on a mass scale which affects the supply/demand of BTC which then affects the value.
So facts are this;
Lots of people selling their BTC = A lower value << we are here currently
Lots of people buying BTC = A higher price.
We also have 3AC who own lots of BTC and I believe they recently liquidated their BTC, they are not able to sustain the 20% payouts to their crypto customers. Give companies like this a chance to get out of BTC first then we will see BTC’s true value and true purpose.
It’s difficult to see it now, perhaps we could revisit this convo when the Purge is over and see if my theory is correct.
A big part of the problem is that we have been working with a false BTC value this whole time. Practically EVERYONE was tricked into thinking “BTC will make you a millionaire” or “BTC can buy a Tesla” or “BTC will quadruple” it’s bull ■■■■ because the slightest sniff of a recession and it all falls apart, the manipulated BTC value was a house of cards waiting to be blown over by a gentle breeze.
Some were refused to withdraw. That only creates more panic, because it means the blocking entity is insolvent and they dont have anything to give out in exchange, could be like tether, when they will not cover 1 to 1. The auction type exchanges are what will block too, and refuse to exchange, but that means people are left without money and bitcoin will be not accepted where they live anyway, or will be accepted but with a constantly applied exchange rate it means they will get less $ for what they invested.
Basically nothing can stop drop in value when consesus arises. And that time is now. All overpriced things were overpriced because there was a hype for them, now the bubbles have burst, because future looks bad for them, worse than for $. Everyone have to keep $ again, and those who can make profit, will sell BTC for $!
Because they can, they realize profits. And if they still make profit before its too late, its ok. Those who bought on top, they are in a very bad situation.
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The only bubble I can see has burst is the “I can become super rich from BTC bubble”.
Bitcoin hasn’t burst, if you check it properly it is just doing exactly what it was designed to do. Bitcoin was actually designed to have a low price when everyone is selling it and a high price when everyone wants to buy it. It is working exactly as intended.
Go ahead and do that, just be aware more $ WILL be printed further decreasing the value of the money already in existence.
Well they still have the same amount of BTC they initially purchased. Also it is no ones fault but their own if they chose to sell now and leave. They still have the option of waiting a few years for their original money, but I’ll say again why invest the money to make profit only to withdraw at the first sign of trouble?
Exactly, this proves my point further. If any business can’t deliver it’s obligations then it is either a poor idea or the current economic climate can’t support it. BTC is not for profit, it is only for (or will be for) freezing fiat money value.
I’m not sure that you understand what is going on. At this point it’s possible the Chinese hackers have taken over a lot of Chinese Miner’s accounts and are selling hard. They can’t go to the police because it’s like saying “Hey, someone stole all the cocaine out of the container that arrived last night!”. And even if they could, and the BTC was converted to real Fiat money, they can’t get it back. That BTC will be lost forever. So instead of getting even more scarce and the 'illusionary halving -which only increases the waste for no other reason than making the fictionalization look like an arc nearing infinity- BTC is going down in value to the exact contrary of what the BTC experts keep claiming.
If he did last month, Their 500 Francs would give him a buying power of 305 Francs. And they can’t afford it.
Source needed. There is no proove whatsoever that it’s value is 12k, I was thinking at 1BTC equaling €100 that this was insane and would pop soon. But that was long ago before “honest non-bankers” like John McAfee were involved with it. The system of BTC is being a vehicles of dark things, even after the silk road’s destruction.
That works for pennystocks, and literally any other thing in the world. It’s so abstract, it’s actually nice. But doesn’t really make any statement at all.
Yes, that’s the exact same issue we have with FIAT! You broke the code! Thank you. So the real value was “the people who can’t access their BTC anymore and will HOLD to infinity” all the time? <3
Are you a Chinese government representative? Because I don’t see others trying to purge it. Oh I get it, it’s the “US VS THEM” part of the cult. 
If the bubble bursts, I don’t think the bottom will be around 10k USD but around 0.01 USD. Make sure you don’t have that car money in it.
However, a very good thought out text, lots of nice things that did make me think and verify some aspects, thank you. And as we now both say, “Time will tell”… no one can know the future, the financial world evolves and revolves all the time.
My prediction for BTC? Pain. 
The real question is, will Satoshi’s private International money “BTC” ever recover? Like I said before I compare it to the Esperanto private language, which was going to replace French as Diplomatic language and English as common language. Although the language hasn’t become as popular as Zamenhof hoped — or brought world peace — it’s estimated that anywhere between 200,000 and 2 million people speak the language worldwide. Devotees say Esperantists exist all over the globe, with especially large pockets in Europe, as well as China, Japan and Brazil.
Sorry there isn’t any frills or fireworks being set off, I’m just telling you how BTC was designed. The statement is not abstract it is a 100% factual description of how BTC value works.
Recover? It doesn’t need to recover in the way you think. You struggle to understand the value of a BTC is and always will be linked to supply and demand of BTC because there is a 21 million limit. So it’s current price is acceptable because a large amount of BTC owners want to sell or the company that holds their BTC wants to sell.
I think you’re just typing here, this isn’t speculation it’s just “I don’t like BTC” There’s nothing in place that could make BTC loose all value. Many people still understand BTC’s true purpose and potential even if you don’t.
If BTC value was specifically designed to match Supply/Demand then what do you mean by recover? From my perspective it is working as intended.
It will be funny to see the look on your face when suddenly everyone wants BTC, the price will match that demand. again this is the way it was designed.
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The law of supply and , one of the most basic economic laws, ties into almost all economic principles somehow. In practice, people’s willingness to supply and demand a good determines the market equilibrium price or the price where the quantity of the good that people are willing to supply equals the quantity that people demand.
It’s not the other way around. You are wrong stating that your lord and savior Satoshi designed the law of supply and demand. BTC just happens to be a product being bought and sold.
No, sorry, that is not enough proof 10k will be the bottom. I did give you some hints, so please reread my post and try to calculate what it will bottom off at.
It will be funny to see the faces when the drop of BTC will trigger their long forgotten auto-buy order as it’s plummeting towards a low value. It will be a bumpy ride as tehy will also either be locked out of their BTC or have to sell ASAP.
I can’t, I will have to wait and see due to BTC being linked to supply and demand. Whatever it does bottom off at will reflect the current supply and demand of BTC. You are running into problems with your views because you don’t want to accept BTC was designed to react to supply and demand.
I’m one of the few that doesn’t care what it bottoms off at, I just know it will be an accurate value when the unrealistic people are purged from BTC. I think only people like those in El Salvador and CAR have a valid use for BTC since their fiat currency value fluctuates a lot.
Even with a $5000 BTC value an El Salvadorian can buy some BTC with their fiat money, wait a year and then sell, the amount of fiat money they get should be worth the same as 1 year ago when they purchased the BTC.
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What? I just literally told you most economical items are subject to the law of supply and demand price forming. Hey, keep your head clear, BTC is in quite some trouble and you will have to be carefull investing. If you do win money, good for you. Why would my face look any different? Did someone win the lotto? Probably on occasion, does my face look funny when they do? No. Do I think the lottery isn’t a good investment thing? Yes. I’m just discussing economics, doesn’t really matter to me when I’m not invested in it. Also, I did tell you that when France will abandone the EUR to switch to BTC I would not bat an eye, it’s ok, I don’t make money on BTC, I make it “the wrong way” by working and sending invoices to my customers.
I forgot to reply to this,and it’s okay. I don’t say BTC will hit a bottom, I just wanted to know if you realize that 1/5 BTC is not accessible thus CANNOT be sold will provide a cushion for BTC to land on. However, as there is the possibility people will try and keep selling at prices that won’t be accepted, demand will be lower than the supply which will be an issue, showing the “it has limited edition and thus never lose value” has been proven false.
“I can become a millionaire from BTC” has been proven false. The core principles that BTC was designed under are still valid and working as intended.
“I can become rich from trading/holding BTC” << unrealistic
“I live in a country where the value of fiat money fluctuates badly, I’ll put some of my money into BTC to freeze the value of my fiat money once the unrealistic investors are purged from BTC” << realistic
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You mistakenly take the law of demand and supply and scarcity with intentional design.
You could say that bitcoin was designed to be as scarce, like faberge Egg. You could say that it takes into account the law of demand and supply. You cant say that something was designed to have low price when nobody wants it, and that thing is only one of a kind. That is the thing with everything you can design to be scarce. Usefullnes tho, it also takes part in creating demand. Basic laws of economy.
As of now BTC is not usefull, at least not how it was intended to in minds of some people that wanted it to soar to 100k, to probably just sell it then…
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It’s useful to me, I can use it to do my legal and private transactions.
No, this is intentional design. If after the Purge the price does actually remain stable, then it will be very useful for Fiat money value freezing. I guess all we can do is wait and see.
Yes, I can see my own path with my mining, My miner will stay on and I will make up the electric bill with my own money where possible. This is the equivalent of buying small amounts of BTC every month.
If you have a lot of BTC and you bought at really low price like 2k, then you are perfectly ok with using it, if the exchange rate keeps like recently even. But, they are overcharging you if you think it will be as high as 60k again in a few years and you think that it keeps the value of 60k, while consensus is it isnt.
With volatility like in crypto, no entity will hold to it, they will use regulated fiat money that is more stable.
Its just speculation, like on stock market, like with resources. But that time is going away and people grab $, as many as they are able to, realizing the profits before they are gone. The shift have happened, it had to happen.
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Good point, I generally respond to facts. It is a fact that the value of our fiat money is going down and some people will want a solution for that, it’s just human nature we are programmed to find solutions and keep moving forward.
We can look at how communication progressed…
1, Smoke signals
2, Walking messenger
3, Horseback/vehicle messenger
4, Horseback/vehicle with written note
5, wireless communication through stylus/electric/radiowaves
6, telephone
7, text message
8, video call
We will never stop trying to improve something wherever we see a flaw.
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This is the end of speculation.
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You only think this because you still believe it’s a money making tool that is supposed to make people rich, It’s not.
Due to it’s limited amount it can serve as a value store if the world decides to use it in this manner, The problem is the Do Kwon’s among us, they will never ever stop manipulating and they will lead you to believe BTC is worth more than it’s actual value. They will try to manipulate you into believing your £1 million will be worth £1.2 million in a short space of time.
We shouldn’t be surprised that BTC currently has a low price due to many people selling, it was designed to do exactly that, you really can’t see it’s just doing what it was designed to?