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unsupp0rted

Would BTC be worth buying at sub-$2k?

I never saw the use-case for it.

I’d sooner use a faster, cheaper, more energy-efficient, more centralized crypto like XLM or XRP.

But even then: for payments it’s hard to compete with Visa/Mastercard for speed and safety.

And as a store of value all crypto is crazy volatile.

If BTC goes sub $2k, would anybody reasonably want it anymore or would the emperor have no clothes?

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I'd definitely put a significant amount of money to buy it at $2K, and almost literally everybody I know would too.

Then it won't hit 2k unless you only believe that and wouldn't actually act on it.

Not calling you dishonest, it's just intentions and actions aren't always as connected as we want to think

I'd probably buy more before it reaches 2K anyway. I was talking more like in a hypothetical scenario where I wake up in the morning and BTC is 2K.

If it was I'd honestly pull back.

Cryptocurrency has a future and Bitcoin is as necessarily part of it as much as Netscape and Yahoo were necessary for the web. (Or US robotics and compuserve, pick your loser)

The thing itself can survive the collapse of the current winners.

That is a possibility, but I think the point is that if BTC was $2k tomorrow, then whether or not it survives in the long term, it seems highly unlikely to at least some of us that it wouldn't bounce back to substantially above $2k again whatever it's long term fate is. It's a gamble, and I certainly wouldn't put money I can't afford to lose on it, but at some threshold the potential upside becomes significant enough to justify the risk. Where people put that threshold will vary. For me it's well above $2k.

Regardless of the value of Bitcoin, anyone should ALWAYS only invest (or gamble, in one sense) amounts that they can afford to lose.

I don't know why anyone does otherwise.

That's true, but there's a significant difference between a gamble on something like Bitcoin, and, say, putting your money in an index fund. My point was that even with that substantially elevated risk, there is a level where some will find it a worthwhile bet even in the middle of a massive drop.

BTC was at $5k on March 2020, before reaching $60k in April 2021. I wouldn't say it's ever gonna die.

There's probably still some value in it for darknet activities like sales of illicit goods, ransom payments, etc.

I think what the poster is asking, is why wouldn't communities/darknet activites deal with other cryptocurrencies which are objectively better than Bitcoin in terms of functionality although they have a smaller community and network at the moment.

I believe most markets already encourage the use of other privacy oriented tokens like XMR.

You guys are funny. Bitcoin is one of the largest currencies in the world with over 100 million users. Read the Bitcoin Standard to understand why.

Pretty much all under the table crypto transactions are in Monero, Zcash, or other privacy coins. Bitcoin’s utility is horrible compared to most other cryptos, its purely a store of value.

I think BTC will always be a gambling ecosystem at minimum. There will be ebbs and flows between it crashing and spiking for its entire lifetime.

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