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RE: All aboard the BAT train. Chooo chooo!
great I can't wait. One question I have though, lets play devils advocate, what makes you think the price of BAT will go up? from my understanding the coins will be earned by watching ads, which means that at least some people (and I would argue most people) will simply dump BAT for other crypto as soon as it is earned. What incentive is there to hold BAT and what will drive the price up? I really like the idea of BAT but im struggling to see why some people are going all in. any enlightenment would be appreciated!
Well essentially the price of any crypto goes up because more people want to buy some than sell some. Let's say 5% of people that get any hodl it, as time progresses there is a smaller and smaller supply. That's reason 1 for any crypto going up, including BAT.
The bigger the market place / the more people trade in / are involved in any crypto, the more people just kinda sit on a small amount without even really thinking about it. $5-10 here or there... BAT should have millions of users so that adds up.
Those are just general points that apply to any crypto.
BAT specifically; for anyone to earn BAT from watching ads, some advertiser has to actually buy BAT. That's FIAT direct to BAT transfer. That is money directly into the BAT economy from an external source. Those BAT have to come from somewhere and the more scarce the BAT is, the higher the price will be.
But yeah, essentially it's just the same as any crypto - the more it is used, the higher the price gets because demand out-strips supply.