Like at some point you have to sell right. What's the point of having so much if you can't even use it? Oh nvm billionaires exist
So what you're saying is that you are holding onto an asset, whose only value is how much someone will buy it for, but you won't sell it, so no one can buy it?
How does this have any value at all? If the only people who value it aren't selling it, than how can it hold any actual value?
the 25% of those who do trade (most of which is done by whales) determine the price :so-true:. Never mind that if any one of these hodlers :soypoint-1: were to sell it would crash the price because there is not much liquidity.
I mean, I get that, but that just means that the actual market is just smaller. They are basically attempting a diamond cartel but with crypto, which is stupid because at least diamonds have industrial applications that make them a required input for industries and thus a constant demand where-in crypto's demand is entirely speculative and artificial. I swear to God if we get another massive crypto pump I will just give up on everything and try to move to China as quickly as possible where they at least had the sense to regulate this unproductive insanity.
Most of diamonds demand is artificial too. It's a luxury/status good and people only want it because of endless propaganda from the advertising industry. They're trying to do the same thing with Crypto honestly, except there's no physical product, just a bunch of fucking server farms in Texas killing the planet with their energy usage.
First as tragedy then as farce and all that
It’s because they think everyone will buy it in the future. It’s how a house or piece of land can be vacant for decades despite demand, because they speculate that future demand will be even greater
making bag-holder solidarity is probably a great way to get people to hold the bag, yeah.
Most billionaires are only billionaires in assets that are everywhere.
If Bezos or Gates ever tries to cash out fully, it would probably break the economy. Musk would only hurt people invested in TESLA.
BITCOIN is worthless because it’s only used like a daytrader stock. You buy coins in usd, then hope the value goes up, then you sell. Also most Bitcoin trading isn’t even on the blockchain.
If Bezos or Gates ever tries to cash out fully, it would probably break the economy
I mean, cash out into what? That's always the real question.
Gates and Bezos have undoubtedly diversified their portfolios beyond their primary holdings. But I bet most of that is just in government bonds, high value real estate, and other blue chip firms.
What else are they even going to buy with that much cash? Bezos literally can't park his yacht in a normal harbor because its too damned big.
Build mcduck money bin and go swimming in it.
They could buy a good sized country.
He absolutely can, so long as its in the right state and of the right people
Still restrictions.
The more power he has, the more he obsesses over the few limits left.
Most people who held from like 2010 likely forgot their keys because they thought it was a funny way to buy Pizza Hut
New investors see crypto as just that, an investment. Only drug dealers and hackers see it as a viable currency. There may be edge cases where something useful is done with it like in North Korea, but otherwise it’s just that.
I did bitcoin when they were doing faucets (literally just giving it away) and giving bitcoins for watching youtube videos and shit in 2010. I have a half bitcoin wallet somewhere, no idea what the password is or the address. Whatever.
damn with that money think about how many empty shelves and funkopops you could have bought :liberty-weeping:
Most people who held from like 2010
Got bankrupted in the Mt.Gox collapse of '14, the Bitstamp collapse of '15, the Cryptsy crash of '16, the NiceHash hack of '17, or the FTX collapse of '22.
I suppose you might have coins dating back as far as '10 in a cold wallet, but good luck getting them out without getting pilfered along the way.
Only drug dealers and hackers see it as a viable currency.
Hey now, don't forget embezzlers and child pornographers.
if you bought bigly in 2010 but heavily diversified your cryptos uniformly all the way through the last decade you could have lost 90% in random rug collapses and still be a BTC millionaire
otherwise, you probably "diversified" everything into one rugllapse or forgot your keys lol
if you bought bigly in 2010 but heavily diversified your cryptos uniformly all the way through the last decade you could have lost 90% in random rug collapses and still be a BTC millionaire
Or you could have spun up your own cryptocurrency from whole cloth, then began trading it through an "analytics" sister-firm run by one of your fuck-buddies out in the Caymans, and you'd be a billionaire 32 times over. Until... well... you know...the thing.
History demonstrates that there were a number of ways to play Crypto and win big. But there were far more ways to play it and lose everything.
if I didn't hate literally everyone too much to ever start a conversation, I think doing a "where are they now" with all of my crypto-endorsing ex's would be interesting.
Idiot. Doesn't the Dragon realize that GnomBits are the financial future?
damn we need to put all our praxis into making a future where 50% of BTC dragons are people of women
I have the feeling a good number of those "long term holders" are people who lost a pendrive with their crypto wallet and now it's sitting in a landfill somewhere.
