That’s funny. They’ll let people literally eat their seed corn by buying groceries and all manner of consumables or throwaway items with no residual value and run up their cards to the credit limit all they want, and that’s no problem.
I’m no fan of Bitcon by the way, anybody who didn’t get out two months ago is either stupid, not paying the least bit of attention or have fallen in love with their “investment” like a gold bug.
I took 1/3 or less off the table in December. I have no good reason to get out. Not only am I way way up, but it's money I simply and truly do not care about. The same is true for many other hodlers. You are quite correct to point out these are not investments.
Or...they got in so long ago that any sale would generate pretty sizeable tax implications.
I am not trying to be difficult or pedantic. But, this mania/crash cycle happens all of the time. Its really no different that the stock market in that way. Its just that the float is so much smaller, the movements are magnified.
I could not care less about whether or not anyone buys bitcoin here on FR. I try to educate about the technology and not the price. When something goes up $1,000 in 40 minutes, even the most die hard fan understands it will come crashing down. It is important to retain perspective—the price has crashed all the way back to November. Not November 2016...November 2017. I can remember back to that time! Ha Ha.