I use to be a Bitcoin maxi and the one day I had an epiphany that it’s actually just worth as much as the next guy is willing to pay for it, and that is the only reason people buy it, because they think there’s an infinite line of new buyers who all think there’s a guy after them willing to buy it, and so on…
Also the fact there’s a few hundred gigawhales who could dump the market any moment they feel like it
There’s also the fact Bitcoin already had it’s parabolic run, currently being up more than 5,000,000% since inception, we’ll never see gains like that from bitcoin, you’d be like to see 1000% gains, and not to mention the remaining gains left in it, are all massively taxable in my country, like 30% minimum, and that’s in 2022, when bitcoin grows and is using 10X more electricity I am sure governments will introduce additional taxes in the form of carbon / emissions taxes for profits on bitcoin.
I just don’t know…. I feel like this whole bitcoin thing is over, the ship has sailed.
I’m not trying to demoralise i just left the whole Bitcoin maxi delusion phase of my life and I’ve woken up to the reality of the situation.
Maybe I’m slow, but I think most people are thinking this, it’s why altcoins and shitcoins and NFTs are what everyone goes on about, they’re all trying to replicate bitcoins 5 million percent gains, and every now and then some of them succeed in doing so, but even that I feel is going to go bust much sooner, flash in the pan shit.
Overall I am personally extremely demoralised in regards to crypto and feel like I need to look for alternative methods of making it, because this shit feels like we’re at a point where it’s like getting blood out of a stone