Bitcoin has an incentivized salesforce that keeps drawing in new money.
The value of bitcoin is surging once again.
Depending on who you ask, bitcoin is either a currency (it’s uncommonly used as one) or a store of value (a very lousy one). One thing is for sure, though: some people have gotten rich off of bitcoin.
I’d argue that a key reason for bitcoin’s current valuation is that it has a massive built-in salesforce. People who own bitcoin spend a lot of time talking about how it’s so great and everyone else is missing the boat. This could be because they really think it’s a great opportunity, but it’s also because getting more people to buy bitcoin is the only way it keeps going up in value. The cryptocurrency needs to constantly draw in new money.
I see a bit of a parallel to domain names and .com domains. Post a story about new top level domain names, and you’re guaranteed to get comments from .com owners poo-pooing extensions that don’t end in .com.
Why? One, I think they genuinely believe it. Two, it’s in .com owner’s best interest to keep pitching the domain as the gold standard.
(To be clear, I think trading in domain names and bitcoin are very, very different. But the two tend to draw many of the same types of people, so your domain investor friend likely owns a bit of cryptocurrency.)
I think it is more like Amway or Herbalife , where people need to keep bringing in new people to make money and the product itself is useless
Anyone who posts this kind of negative rhetoric missed the boat on Bitcoin
Anyone with a stock (usually smaller company’s), a collectible, rare asset, major domain name, or otherwise will talk up that asset.
Bitcoin is no exception to the rule it’s just that it is fungible so many people own it (as opposed to a smaller stock or rare asset).
Stop being such a pessimist and see the scale of the opportunity. Owners of Bitcoin are behaving no different than they should…as supporters.
You are likely a negative person or nervous Kelley as they say….and you likely sit on the sidelines for many deals where you misses out (and will continue to miss out).
There are some other (obvious?) similarities: your friend the domain investor, like a crypto booster, may well be white, male, and libertarian politically.
If I told you that Bitcoin is a mutation of the Coronavirus, what would you answer?
Pump and Dump. Simple as that.
Bitcoin is neither a currency or a store of value. It’s part of the dark web.
you sir actually seem to be part of the “dark web” (dark ages) shilling anti new age value.
This that you read now I send a Tweet to Andrew (Drew) Rosener, about a current news of Bitcoin on Twitter
Bitcoin and Coronavirus mutated in 2002, Bitcoin 2014 purely speculation, 2019 and 2020 sudden change in speculative economic stock market and global speculative health. https://en.wikipedia.org/wiki/Hashcash
Andrew replied with like
Bitcoin is a scam. Nobody knows who the real owner is except the corrupted owner.
You think Communist China and Russia will allow bitcoin unless they are the ones in control?
Look at Jack Ma Ant– was completely destroyed by the Communist State because Communist wants to control!!
Bitcoin is not what you write, the future of humanity is not planet earth, here we are many.
The Bitcoin with the Blockchain are purely currencies that will be used in the human settlements of the Planets Mars, Moon among others and also in space cities this is the future of Bitcoin, Blockchain, etc.
What I have written is a theory of myself.
“Post a story about new top level domain names, and you’re guaranteed to get comments from .com owners poo-pooing extensions that don’t end in .com.
Why? One, I think they genuinely believe it. Two, it’s in .com owner’s best interest to keep pitching the domain as the gold standard.”
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Nobody outside of the domain industry actually cares about what any domainer thinks. The above is echo chamber commentary much like the positive new tld commentary has zero effect.
But whilst many people talk up .com it is obvious that it is the only genuinely investment grade extension and no other extension has ever been able to touch it. The competition is extensions that people don’t want to on.
Finally ….I can agree with Snoopy !