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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I can’t believe that at this point people don’t understand bubbles and boom & bust cycles. OP do you really not understand this? Please stick to index funds until you get a better understanding of the basics. [/quote]

Insufferable. Your post tells us all you dabble in finance and prob work at a defense contractor or some other lame bro job, but fancy yourself some sort of financial genius. Bitcoin isn’t backed by anything or any intrinsic value. It’s all BS and no rules apply. [/quote]

It's a ponzi scheme like all the crypto.  It only has value if you convince a lot of other people to buy it, but once they start selling it it literally can go to zero, as there is nothing about it that can be sold for any type of value (unlike land, precious metals, grain, oil reserves, timber, etc that have intrinsic value of usability for human survival).  digital assets are an illusion[/quote]

There is absolutely a floor. There will always be some zealot who will try to pump it up. Its the ultimate pump and dump penny stock, because you can trade from multiple wallets and its hard for SEC to track you down. [/quote]

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