
Bitcoin's terrible 2018 doesn't bode well for the future of crypto - toufiqbarhamov
https://www.engadget.com/2018/12/20/cryptocurrency-year-in-review-loser/
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suff
Most people who got rich from bitcoin did not do it 'overnight' as the article
states. They probably held for several years. I think the author is confusing
pyramid schemes with the creation of a new asset class. Sure the next 2 years
will be bumpy. People have to plan on waiting for growth in the long-term.
There is a word for people who try to guess the short term: speculators.

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bitxbitxbitcoin
That is the key differentiation between a speculator and an investor or God
forbid, a user.

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erpaa
Bitcoins value comes from the real assets that are traded. These assets are
foremostly illegal drugs, guns, porn and -- financial security under
oppressive government. The last one is now much less valuable however, when
Chinese government has started clamping down free internet, and bitcoin
transactions will be monitored more closely. However now that we have bitcoin
derivatives those who are afraid that bitcoin does not represent their moving
asset valuation correctly can effect real changes. Therefore it is prudent to
assume that bitcoin will settle down to reasonable level. I think the
psychologically "reasonable" value is when one bitcoin is comprehensible to
average drug dealer in 3rd world countries. I say 1000 dollars is such a
number.

