Quote:
Originally Posted by DVTimes
One hears of people with millions worth of bitcoin.
But will firms pay out?
I wonder if firms will pay you millions for your bitcoins knowing the next day the value will drop, and what firm will have funds to pay out millions?
Most people out of greed will hold onto bitcoins hoping they gain more value, and will probably sell when they see the value drop At that point I fail to see any business paying you millions for something that is dropping in value.
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That is because you fail to understand how the market works. The Stock Market is no different. Technically you don't make money until you sell. But it still holds value weather you sell or not. Why would someone pay millions for something dropping in value? Its simple Buy low sell high. When bit coin dropped from $6,000 a coin to $2500 a coin in just a few weeks people took advantage of the very low price and 1.5 years later it hit $40,000 per coin. As more people invest it goes up. when people sell it goes down. When people buy just to hold on to that is also good for it holding its value. Bitcoin isn't going anywhere.