So what specific bags of air are you talking about?
Wolfie argues that btc has now demonstrated that it has "inherent" value
Out of courtesy, I generally try to answer questions put to me. I expect the same in return. Any chance you could answer directly the question I put before deflecting?
If not, what's behind the sudden increase in its price?
Speculation?
Has there been any reported sudden increase in the usage of BTC to actually buy stuff????
Not that im aware of. Bags of hot air, as bitcoin is (EFSW,NTBTL) dont normally command increases in usage.
Nor are they subject to price surges and crashes as bitcoin is. What makes the BOHA different?
I'm still trying to get you to answer the first question I put to you! I've asked 6 times so far in earlier posts, why can't you answer that?
A steady stream of suckers looking for other suckers. But who cares, at least we all agree bitcoin is a bag of hot air!
Yes, but for this bag of hot air, this time is different!
That's assuming we're not witnessing a Dead Cat Bounce, of which history provides multiple examples. There are only so many suckers out there..
Okay, I re-read your argument. You do make a big point that the bounce back from €2,500 underpins its "inherent" value, your terminology. I agree that nothing has dramatically happened to the bitcoin proposition in the last 18 months, it is not like Anglo whose assets went form hero to zero in that space of time. Bitcoin is still the same old bitcoin to its believers albeit the proliferation of rival gods has accelerated. And you are probably right that we might now have an underpin to its "inherent" value as far as the true believers are concerned. All prices above that are then speculative froth.No I haven't.
Im arguing that bitcoin, as the BOHA (euphemism for something worthless, not to be taken literally - EFSW,NTBTL) that it is, that for this BOHA, this time is different!
Wouldn't you agree?
If not, can you be specific to which BOHA in the entire history of financial and economic history does this BOHA resemble.
In doing so you will assist Leo on his merry way.
Oh great! Angels dancing on pins time again
I am a committed subscriber to the BOHA school, having learnt most of what I know about bitcoin on this site. I am also grateful to this site for encouraging me to short btc at 14,500 and subsequently close out at just over 8,000. But I stand ejected, I could never, ever have predicted this Lazarus type bounce back
I agree that nothing has dramatically happened to the bitcoin proposition in the last 18 months
Because im still waiting for the first question I put to be answered.
As I explained already, out of courtesy I tend to answer questions put to me, I expect the same in return.
What history are you referring to in this context?
But I asked first. Courtesy would suggest you should answer my question first, why keep on ignoring it?
But out of courtesy to you, the historical events I was referring to is the entire global financial and economic history.
But out of courtesy to you, the historical events I was referring to is the entire global financial and economic history.
Not in the whole history of finance and economics has a bag of hot air acted this way. Once the price collapse starts, it doesn't stop until the game is over. But for this 'bag of hot air', this time is different.
In post #242 you said:
So again, what BOHA events were you referring to where 'Once the price collapse starts, it doesn't stop until the game is over.'
You tried to answer in post #247 with Tulips, Enron & Anglo as examples. These examples clearly do not fit your claim, can you provide examples that do?
After 14 pages.....the title of this thread is definitely not accurate.
Clearly those examples do.
That was already addressed in post #248. None of those examples fit with the BOHA definition.
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