That logic is flawed on so many levels.

in #bitcoin7 years ago

Interesting perspective. Most of my issues with BCH derived from the evangelism of Ver et cabal, good to see folks who support it for what it is and dont make claims that cause end user confusion. Minority Fork in competition - I like that. Thank you for the refreshing viewpoint.
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Bitcoin is ideal as a specultive asset:

● Scarcity value, but no fundamental value.
● Compelling "new era" narrative: The borderless currency that dispenses with central banks.
● Significant complexity.

That it inflated into a huge bubble can hardly come as a surprise.

When your narrative bubble pops you’ll see bitcoin is the pin. Fundamentally it works as it has for 9 years. Buy one and you may have a chance in the new era. Nothing last forever.

Bitcoin/crypto newbies say this all the time b/c they are ignorant to the fact that bitcoin goes out to 8 decimal places. So 0.00000001 BCH (called a Satoshi) is worth $0.00008 at $8000/BCH. The total supply in Satoshi's is 2,100 trillion or 2.1 quadrillion. Plenty to go around.

I recall the same logic with baseball cards and beanie babies. How did that turn out? In other words what you are saying is that they lack intrinsic value so you are resorting to hoping for a supply and demand imbalance that at minimum lasts long enough for you to sell.