alt Hacker NewsI'm doubtful that Bitcoin true believers will give up after a crash and expect that there will be buyers. At what price, though?
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ajkjk • today at 3:03 AM
on the one hand I can't imagine it will ever go fully to zero because then people will buy them just for fun, keeping the price at least a bit up.
on the other hand there is a price where the network no longer has any incentive to operate. Whereupon... doesn't it just stop working / become easily forkable? in which case it seems like Bitcoin is perhaps uniquely unable to recover from crashing out of all things that can crash (a thesis which is consistent with it having no intrinsic value, lol)
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> At what price, though?
When they’re personally financially desperate. Bitcoin is, in many senses, a measure of the excess capital in the economy.