RE: Follow the money...21 Jan 2022 20:27
HarChris, My apologies for the insults, however, you are accusing me of something I never posted, check out my posting history. I agree and always said that we don't know where BTC will be, I only mentioned that it rebounds after fall, which it does.
Canetoad and alpha omega, you are looking at it to simplicticly.
"You might be paying 10,000 bitcoin for 2 pizzas again like in 2010. It all depends on what people value them at. Their value is purely based on what people will pay."
That might apply when you are buying a house or a purchase of your individual needs, however, BTC is different. To keep it simple (short and sweet), it boils down to perception management. All the mass media for years have been giving BTC loads of air time, it is mentioned in the news daily everywhere, which in effect creates this value to this humble crypto. You cannot undo that, they are trying to create the dollar of the internet (I believe, they have succeeded), Most of the world trades in dollars soon they will move over to trading in crypto and BTC is the dollar. So, you pay whatever the exchange rate is, not what you are willing to pay.
In my honest opinion.