Community Trust ScoreVerified
Dan Held expressed: Critics: Bitcoin $100? A bubble. Bitcoin $1,000? A bubble. Bitcoin $10,000? A bubble. Bitcoin $100,000? A bubble. Bitcoin $1,000,000? A bubble. Reality: Bitcoin is the bubble that never pops.
It’s all about Trust. Not having to trust is the whole point of Bitcoin. Bitcoin is a GoFundMe for your freedom. Bitcoin is a vaccine against fiat. Using fiat currency encourages discrimination. It’s impossible to discriminate with Bitcoin.
Discrimination = censorship through overly burdensome regulations, being canceled, etc. Bitcoin is the best hedge against all of the chaos happening in the world today.
Community response: Of course, every bubble pops. But inside the bubble, there is always another bubble growing. It is called Inception Bubble. Everything doesn’t pop.
Fiat: In God We Trust; BTC: In Code. We Trust For those who create something out of nothing, and Trust in God to secure its value is a failure. For those who make something out of energy and Trust in secure math/code backed by game theory to secure its value is destiny.
Bitcoin breathes in 4-year cycles, expanding and contracting while the organism as a whole grows larger. I used to blow snot bubbles as a kid.
Wrong. It did exhale 3-4 times. After every Bull Run, it exhale with 80%+. So, in general, the trend is up, but don’t forget we are writing a 10years chart now. Expect the unexpectable. How about a dip to 5 years low? Even 6? Just a theory.
Correction: It’s a bubble that pops every bear cycle. It’s just that it rises higher the next bull cycle.
The bubble just gets blown up a bit, then goes down a bit, blows up a lot, goes down a lot, then goes up.
Fiat is the bubble. That’s why we are in an ‘everything bubble. Now people realize they can print, own, hold their own money. Bringing immense value to the masses is simply creating a better world, not a bubble. Therefore BTC is not a bubble. It’s only a bubble while it’s going through adoption.
It corrects like any high-flying tech stock, so people should dollar-cost average.
You still have to trust yourself in managing wallets. Sending to correct addresses at this time, filter for casuals is still too big. It’s verifiable math written in immutable code; no trust or promises are needed.
Whenever Trust is used as an argument, it is really saying Verify. Trust went out the window a long time ago. Trust the internet, folks; what a joke.
