BTC has dipped below $10k. I'm not saying it's a buying opportunity, but... it's a buying opportunity.
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They MIGHT not. If they do, the same reason people might pay more for Swiss Franc in the future? Or Yuan or Gold or Peso?
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But speculation for the sake of speculation is pointless. The point of money is to buy stuff. I think for people who got it at a few hundred this is about the time to get out, buy a house or start a business or whatever they wanted money for.
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The point of money is to buy stuff... IN THE FUTURE. Some fraction of any portfolio *should* be invested in highly speculative vehicles. If BTC is 80+% of yer portfolio, yes reweight.
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I suspect bitcoins have been down lately as people have looked around at all of these other cryptocurrencies and wondered why anything infinitely replicable in this way should hold value.
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BTC is *not* infinitely replicable. That is the whole point.
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Cryptocurrencies are, though. Infinite forks. Bitcoin 2, 3, etc. We already have thousands of cryptocurrencies. In the end they're just numbers
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Well anybody who hasn't heard of Gresham's Law deserves what they got coming.
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What makes some good and some bad?
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