With Trump's cabinet being so stacked with crypto and AI goobers, I'm so curious to see how the bubble bursting will impact them. Even if Trump goes all out with an immediate price floor at a millionty-billion dollars per bitcoin it has no more use-value than it did in 2014. I can't buy bread with it anywhere in town, and if I could I would still use my debit card because it's easier and more secure and the price won't fluctuate wildly tomorrow. The things undermining crypto can't be externalised or wished away by tying them to a dying economy under a dysfunctional government.
This screams of art. Why do rich people by art? It's to have a physical asset with value not defined by currency. Bitcoin is a lot like that.
It's a speculative investment sure, but my point is that it's nothing but that. Bitcoin's value has always been based on the value of bitcoin increasing so that you can sell it to the dumbass who thinks $100k is the floor. There's functionally no distinction between buying a $1000 beanie baby, a $300k URL for a monkey jpeg, or $100k monopoly money. At some point you run out of suckers who think it's intrinsically worth that price.
I put £9.50 in bitcoin ages ago as a bit and ngl its paid off big time
now i have £26.57 in bitcoin
Really hating myself rn for selling my 0.17 Bitcoin for $40 in 2015.
