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Originally Posted by jscott
Nothing wrong with cashing out at large profit. But those who learned/understand BTC don't sell so easily because they know a scarce finite asset vs. an infinite forever debasing asset will always lead to value appreciation. Simple as that.
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If it was as simple as that, Feathercoin (scarce, finite asset) would "always" be worth more than Dogecoin (infinite supply), as it was from 2013 until the start of this year, rather than Dogecoin now having a USD value ten times that of Feathercoin.
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We all look at BTC price vs. a fiat pair right? 1 appreciating with fixed supply vs 1 depreciating infinite supply. It's almost as clear as math. The only thing that blurs it for 99% of people is time, patience.
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I think what blurs it for 99% of people is understanding demand, not just supply.
99% of people (100% really; bitcoin fanatics just won't admit it) also understand that something that can be infinitely copied is anything but scarce and finite.
If you could copy gold the way you can bitcoin and pay 50 cents for a gold bar with infinite supply, why would you pay $50k for a gold bar that doesn't even have cute dog's face on it?
The clear math is that in the last month Dogecoin (and ETH) is up not just against the USD but against bitcoin.
BTW, the only coin I have is bitcoin (and I've never had ETH) so this isn't just cultishly defending coins I'm up to my neck in. The very reason I trust bitcoin more as the safest, most stable option (though still not much, since I think the inevitable massive crash can happen at any time), is the reason people new to crypto find it boring. It's the Facebook of money in the Tik Tok generation.