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Crypto currency (IF banned from CA)


It looks like it has reached peak market penetration and they've ran out of greater fools.

When your in-laws and parents know what crypto is you have to ask yourself who is left out there to be scammed that hasn't been yet?

There's hardly any valid use cases for any of these "currencies" and its unlikely that private businesses will see much value investing into infrastructure to accept it as payment when the main reason people buy it is to use it as a speculative store of wealth rather than as an actual currency to be exchanged for goods.

The arse has well and truly fallen off now. It will be a bumpy ride on the way back down to 0 for some and I can't wait to watch it.
 
It looks like it has reached peak market penetration and they've ran out of greater fools.

When your in-laws and parents know what crypto is you have to ask yourself who is left out there to be scammed that hasn't been yet?

There's hardly any valid use cases for any of these "currencies" and its unlikely that private businesses will see much value investing into infrastructure to accept it as payment when the main reason people buy it is to use it as a speculative store of wealth rather than as an actual currency to be exchanged for goods.

The arse has well and truly fallen off now. It will be a bumpy ride on the way back down to 0 for some and I can't wait to watch it.
Any metrics to back up the claim of 'peak market penetration'

They don't know what it is they have just overheard the word bitcoin or read it in a news article, this is probably the best top indicator there is.

What happened to people wanting a right to privacy, we have just thrown it all away in the digital age. It is illegal to open a letter addressed to me but it's fine for gmail to store and read every email I send/receive. I have said before BTC will never be used as p2p digital cash but there is significant value in a censorship resistance network.

You aren't the first and won't be the last to say BTC is going to zero, nothing you are saying is new or has been said before and it's frankly boring. I tell you what, if you are so convinced everything is going to zero, get all the money you can and short BTC, free money right? Something tells me you won't do this though, I wonder why...
 
Any metrics to back up the claim of 'peak market penetration'

They don't know what it is they have just overheard the word bitcoin or read it in a news article, this is probably the best top indicator there is.

What happened to people wanting a right to privacy, we have just thrown it all away in the digital age. It is illegal to open a letter addressed to me but it's fine for gmail to store and read every email I send/receive. I have said before BTC will never be used as p2p digital cash but there is significant value in a censorship resistance network.

You aren't the first and won't be the last to say BTC is going to zero, nothing you are saying has not already been said before and it's frankly boring. I tell you what, if you are so convinced everything is going to zero, get all the money you can and short BTC, free money right? Something tells me you won't do this though, I wonder why...

Well if you elect to use Gmail, then yes. This is like moaning about Twitter being able to read your tweets.
 

Any metrics to back up the claim of 'peak market penetration'

They don't know what it is they have just overheard the word bitcoin or read it in a news article, this is probably the best top indicator there is.

What happened to people wanting a right to privacy, we have just thrown it all away in the digital age. It is illegal to open a letter addressed to me but it's fine for gmail to store and read every email I send/receive. I have said before BTC will never be used as p2p digital cash but there is significant value in a censorship resistance network.

You aren't the first and won't be the last to say BTC is going to zero, nothing you are saying is new or has been said before and it's frankly boring. I tell you what, if you are so convinced everything is going to zero, get all the money you can and short BTC, free money right? Something tells me you won't do this though, I wonder why...

Any metrics?

Here's some stats on the Mat Damon ad that aired during the superbowl.

The commercial, which debuted on October 28, 2021 and was replayed again during the Super Bowl, has now been viewed 9 million times on Twitter and over 18 million times on YouTube


Here's a report from the bank of Canada stating around 89% of people surveyed where aware of the product.




Screenshot_20220701-102954_Drive.webp

 
I specifically like the part where they mention most owners are young men with low financial literacy.
So the takeaway is 5% own BTC and this figure has remained pretty much constant for the 3 most recent years in this study. Does this sound like peak market penetration to you?

Love the way you missed out 'educated' and 'high household income' from that line. Young, well educated men with a lot of disposable income choose to invest in risky, speculative assets, what a massive surprise that is...
 

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