No. of Recommendations: 0
I thought you made some poor arguments.
Going from memory, BTC doesn't generate any income so the price is throttled - Flipping gold is a 15X ... I'd be happy with that. Criminals use it - they mostly use the USD. Only a small percentage of BTC is used for illicit purposes ... who wants a permanent record of their crime? It's not money - of course it is. 10T in transactions, bigger than Visa. The next day Russia said they changed the law and will accept BTC for intl payments. That opens up a settlement channel for half the world. They'll soon run out of new "speculators." - Adoption is moving very quickly. BTC keeps showing up in new places: insurance companies, retirement funds, public companies and brokerage accounts. Pariahs - several hundred million (?) Bitcoiners are just trying to keep the govt from taxing their savings through money printing. I don't think they're evil. Adoption and regulatory certainty are the driving forces behind rising prices and there has been a dramatic change in the last year. Hard to believe you follow it closely and don't see that.
Money can be made shorting the market in BTC. It does seem to follow some predictable metrics. But, any success you've had I attribute to being a good coin flipper. :) After all, BTC is the best performing asset class ten out of the last thirteen years and you'd have made a lot more going long.
