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Old 6th July 2020, 01:24 PM   #643
Skeptical about skeptics
psionl0's Avatar
Join Date: Sep 2010
Location: 31°57'S 115°57'E
Posts: 17,009
Originally Posted by lomiller View Post
No one ever argued that it was immanent. Bitcoin will go to some approximation of zero eventually because it provides net negative value; it costs money to maintain and doesn’t create any value of it's own. How long that will take to happen is anyone’s guess.
All irrelevant reasons. The only reason that bitcoin will lose value permanently is when all investors stop putting money into it forever.
"The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975
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