Bitcoin Message Board - Msg: 33293355

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Strategies & Market Trends : Bitcoin

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From: Doren	4/23/2021 5:24:12 AM
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The thing about bitcoin I find hard to swallow very long term is... "One reason bitcoin is valuable it the amount of bitcoins is "limited"..." This made sense at the start and I think it will continue to prevail price wise for some time, but it seems like its not hard to produce a competitor. So bitcoins really aren't limited at all. Eventually there will be better bitcoins that will gradually start sucking money out of bitcoin. And eventually there will be hundreds of types if not thousands of types of bitcoin... As per Crypto Art... other types of crypto where you actually OWN something whether it has true value or not it *seems* more valuable when you own something doesn't it? And since there are no limits on how many types of bitcoins can be produced, or how many per type, and its not that hard to make them there will be a glut. When that happens I think investors will rush for the exits. Probably money will flood into the stock and commodities markets. I don't see this happening short term but it seems to me to be an inevitability. Right now that covid money has to go somewhere... It reminds me of tulip bulbs A LOT. At first very few were rare and valuable. Tulips arrived in Holland in 1554, proliferated, and eventually peaked in 1637, 83 years later when the market was flooded with more bulbs than money and the market crashed. This probably won't take 83 years. We trade via computers NOW. And computers can proliferate bitcoins faster than the ground can produce tulip bulbs. I doubt that many kids have ever heard of Tulip Mania.

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