In One year, bitcoin price went from 20k to 3.3k (USD)

What happened !

  • 12
    The bubble burst.
  • 1
    I bought it when it was 1000 usd, sell it at 13k ( I earned about 5k) went busy and I found it at the ground. shit
  • 2
    reality check
  • 1
  • 2
    Because btc isn't supposed to be an investment asset. It's supposed to be a currency. It caught a giant wave of hype and got inflated to far, far beyond its useful value. It's in the process of correcting back to that point, as the tourists get shaken out of the trees.
  • 0
    @irene bitcoin has no outlet nor proper input anymore. A regular currency can be monitored, it can be produced at any given time, it can be decomissioned etc. In short it can be controlled and balanced if need be.

    Bitcoin however has a finite number of keys that can be generated and the "well" has pretty much run dry..... this means there wont be any new keys in a short while that can be added to the circulation, but old keys can still "dissapear" or be forgotten. And because you cannot monitor the transactions taking place, its impossible to balance or mend problems that may occur.

    PS: it makes it unstable and unreliable.... this in essence, makes it a very risky investment.
  • 0
    The only real use cases for Bitcoin are payment for illegal activities and tax evasion. CO2 emissions caused by mining are huge.
    The world will be a slightly better place after the collapse of the crypto bubble.
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