Just be careful, is all. Nothing goes up like that forever. "What goes up, must come down" -
https://twitter.com/dhh/status/935360035755999232
- dhh
Let's just take the contrary position for the sake of argument - "the price rise you're looking at will continue, perhaps with small corrections here and there, but will basically continue to rise over time."
If that's true, there's no point in owning Apple stock. There's no point in buying a house. There's no point in owning any commodity, currency, or anything. Everything ought to be in Bitcoin. Investing in anything else would be crazy or pointless.
And if that's true? Then there's no more investment into anything else. Everything goes into Bitcoin.
I guess your "success scenario" after that is every commodity, product, service - everything, ever - would suddenly get re-priced into Bitcoin. Because why take a failing fiat currency, when you can take Bitcoin instead? Dollars dissipate in value. Everything ends up in ruin.
But the inflation rate on the US $ isn't particularly nutty right now. Couplea percent per year I'd figure. So that doesn't add up.
I don't doubt you can make a pretty penny on the odd bitcoin here and there. But the graphs look just like the Tulip graphs, or the above-mentioned South Sea Company.
So, just, be careful is all I ask. I love being right, but I don't want to be right on this one, because I know too many people are going to get hurt. I'm hearing things like "Borrowing into Home Equity Lines of Credit to buy Bitcoin" and that freaks me out. Plenty of people will be in financial ruin.
Please at least try and have some kind of backup plan. Because whenever something cannot possibly fail, then it can't win either - if there's no risk, it doesn't make sense that there'd be any reward.
RE: When Will You Join the Cryptocurrency Future?