re: #203 austin_blue

And this is where I throw up my hands and yell a lot.

If you have a finite resource (Only 20 Bitcoin out of a fixed figure of 14,000 remain!), you turn into the World Worm eating its own tail, spending $50,000 to acquire a $40,000 asset. And then what? The asset has limited its own growth and can’t be worth more than what it was worth on the day the last of a self-limited 14,000 has been mined.

Granted, I am a bear of very little brain, but it makes my head hurt.

Bitcoin speculators are counting on that bolded part being false, which it basically is. Asset values in speculative bubbles are irrational, and the whole point of bitcoin is that its originators (who probably still hold some ridiculously large fraction of all bitcoin) intend to be the early winners in a bitcoin bubble they intend to cash out of in time.