It looks like a bubble to me, but I thought that at $100 and $1000
I just don't get it. I've been not getting it since 2013 and maybe I'm utterly wrong but I'm still not going to buy something just because it keeps going up.
Steve your suggestion of limited downside and unlimited upside sounds pretty appealing - but I try to base everything on expected value and there just isn't any way to calculate one.
e.g. if there's a 10% chance of getting to $40K then $4K is a fair price - but how could anyone say that with any confidence.
Where is the value? How is it a useful currency when it's ridiculously volatile and transaction costs are far higher than fiat?
I can see quite a lot of value in decentralised transaction tech, but what's to stop that tech being used with normal currencies?
Fiat has value because it is backed by states with real power.
Gold has value because you can hold it in your hand and 90% of the world population has valued it for a thousand years +
Can anyone explain this better than I understand it