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flagamuffin  ·  257 days ago  ·  link  ·    ·  parent  ·  post: What will the price of Bitcoin be one year from today?

can't help but recall buffett's phrase "effortless money." bitcoin is exactly that for the vast majority of owners who have never put any of their energy bill toward it.

but unlike previous silly wildcat speculation markets which seduced the working classes (the stock market is your ticket to the upper class! it's okay to have two mortgages at once on a salary of 30k/yr! etc), bitcoin by nature is the exclusive province of the gray tribe. and that may make a fundamental difference in how the expansion plays out.

still... previously "effortless money" described a sort of stigma or negative, definable phenomenon, which is why buffett said what he did and why he's been right in the '80s, and again in the '90s, and again 10 years ago.

question: why is 1 bitcoin worth 7000 dollars?