BTW I don't know where he got the math from, but at the time with the real rare liquidity (only a couple of millions Bitcoin in existence with satoshi holding a million himself) you could really pump the shit of Bitcoin with only $10K and I mean really pump the shit of it.
it didn't require much to pump the price till 2013 really because huge holders from mining hoarding the coins and causing and really low liquidity, any amount more than $1000 could pump the market few %...
TBH, while more than 60% of all Bitcoins are still held by just few people, and the volatility and the bursting bubble (the lost of value against $) and the lack of protections for consumers...Bitcoin is way worse than FIAT at this stage, I believe and I am very bullish about the long term success of Bitcoin, but short Term, I don't see what perma-bulls are seeing...
it didn't require much to pump the price till 2013 really because huge holders from mining hoarding the coins and causing and really low liquidity, any amount more than $1000 could pump the market few %...
TBH, while more than 60% of all Bitcoins are still held by just few people, and the volatility and the bursting bubble (the lost of value against $) and the lack of protections for consumers...Bitcoin is way worse than FIAT at this stage, I believe and I am very bullish about the long term success of Bitcoin, but short Term, I don't see what perma-bulls are seeing...
Well yes the maths is what i was getting at. Im no permabull though
But for the immediate short term they are seeing this
