Double Upvote! Lol thanks for the shout out. This post sounds like a conversation I had with a friend about BTC almost two months ago. I think you laid it out even better though.
People run to exit from it (only 7 at a time though)
Hilarious! And says everything right there.
Everything eventually falls to it's intrinsic value, and since BTC is already obsolete in my view, it's only a matter of time until the hedge funds catch on.
Great post.
Where the price goes until then is all a matter of investor psychology.
Oh I almost forgot; I think in a couple of years, people are going to shake their heads that people were spending hundreds of millions of dollars to build massive "mining" rigs in Iceland and Sweden.
In a couple of years you're going to look up "malinvestment" on investopedia and this $115m financing will come up, mark my words!
Oh geez, that isn't even the tip of the malinvestment! At least they can sell the rigs for scrap when the inevitable oversupply hits eBay.
With worthless digital tokens from crap coins all around they will end up with literally nothing.
That gets me thinking. What can we do with mining rigs purchased at minimal prices? There has to be something useful to turn their power towards. Inventive thinkers hit me up please.
ooh, now that's interesting, I hadn't thought about that. What does one do with a bunch of now useless gpu's?
Play a bunch of videogames... or SHORT NVIDIA. I dunno, too risky for me.
1 model and build a super-brain / neural-network
2 build a profitable simulator
..
3 hello?