Quote:
Originally Posted by adultbizwork
No personal problem against BTC at all, I even bought and hold some since it was 10K, however the only thing that defines the price of an asset is people entering and buying it.
It doesn't matter if max supply is 10 million or 21 million or if a lot of people hold it since the early days, if people don't enter and don't buy it, even if more people sell it than buy it, price will eventually fall. It's economy 101.
That's why they make all those bitcoin conferences and pay so many crypto influencers to convince people to buy. That's the only thing they can do, convince people to buy it and enter the blockchain to increase the price of this asset.
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If you're talking about altcoins then I agree, as they have CEO's, employees, marketing teams and many people who stand to benefit from the altcoin creations, enriching the founders (see Ripple/XRP's Larsen & Larimer, Garlinghouse, see Zcash Zuko founders fee, see ETH Vitalik net worth, etc)
Bitcoin on the other hand has nobody. A person made an awesome thing and vanished. The reason it grew was many advocates for free, fair, decentralized, permissionless money spread the word, and any/every one of us love that idea, unless you're a zombie of the state.
So, Bitcoin, it sells itself. Altcoins on the other hand........
ps. Gold needs to be "sold" onto others too. Have you seen the commercials? There are tons. And 95% of gold is stored value, not being used for anything else.
