Quote:
Originally Posted by THAY3R
You just really have no clue what you're talking about. Imagine what someone who invested 10% of their net worth would do when it became 80% of their net worth, or how much USD someone would have if they sold 10% of their gains each month. You're beating a strawman and are essentially just smugly pointing out what happens when a bubble pops and the bad unintended consequences short term capital gains taxes can have on speculative markets.
Rich people do not suffer from bubbles.
History has shown that people do not come close to rebalancing properly in situations like this. The % of people who invested in Crypto over 6 months ago and now have less of their % net worth in Crypto than they did when they invested I can guarantee is less than 1%.
It's pure speculation with no underlying reasoning behind why it should be priced at any level. It also, through draining the Earth of its natural resources through massive electricity usage, is a net negative for society.