Exactly no one actually did. People bought btc because number go up. To the extent that there is utility in BTC (or any crypto for that matter) that utility isn’t worth much monetarily.
The problem is that these projects have a super low barrier to entry so even if one finds a good utility use case, there’s an infinite number of identical (or nearly identical) projects that can spawn quickly to do the same thing. No matter how high demand gets, supply can match or exceed it.
But BTC isn’t infinite. While true it can be infinitely forked. An infinite number of finite sets is still, from an economic point of view, infinite.
I got into this thread more just to put in my thoughts on trading anything, not to endorse or discourage what one is trading.
midway
npub1dk…6tj9k
2025-12-03 14:06:12 UTC
in reply to nevent1q…xk3m
Author Public Key
npub1dklx57mx4rtyzlrffpwynad2jrjcpjlr472veqq7u7fd4ln27cvs46tj9kSeen on
wss://relay.momostr.pinkPublished at
2025-12-03 14:06:12 UTCEvent JSON
{
"id": "a26798a1dcfb5e3c9c24b2c47f5c825462b32484d18f87426eec01faec1af2cf",
"pubkey": "6dbe6a7b66a8d6417c69485c49f5aa90e580cbe3af94cc801ee792dafe6af619",
"created_at": 1764770772,
"kind": 1,
"tags": [
[
"p",
"2a1895065cf4b5a71d71aa197b906f6f3cf3ffeb2f0b383f4fa188765e0aea94"
],
[
"p",
"c8c35f544a7bba08293c7fd50a778db3c99d5c8071439db1fa6d07eed1b15076"
],
[
"e",
"e87f8fdd25e994ab1002976e86ca300f5f276c01c263744f7d03b935c0e1f9ee",
"",
"root",
"2a1895065cf4b5a71d71aa197b906f6f3cf3ffeb2f0b383f4fa188765e0aea94"
],
[
"p",
"6dbe6a7b66a8d6417c69485c49f5aa90e580cbe3af94cc801ee792dafe6af619"
],
[
"p",
"e98bb6b76cd12e46e8bb4c9efba02c5133cde99904ef1507252fdeb6bb339dd9"
],
[
"e",
"ea600c907037a83a7081a49bce373af45bd1492d2ab151fac2a1dcf00a59eddc",
"",
"reply",
"e98bb6b76cd12e46e8bb4c9efba02c5133cde99904ef1507252fdeb6bb339dd9"
],
[
"proxy",
"https://soapbox.midwaytrades.com/objects/c196b879-c001-40db-96e6-e34152a9b07c",
"activitypub"
],
[
"L",
"pink.momostr"
],
[
"l",
"pink.momostr.activitypub:https://soapbox.midwaytrades.com/objects/c196b879-c001-40db-96e6-e34152a9b07c",
"pink.momostr"
],
[
"-"
]
],
"content": "Exactly no one actually did. People bought btc because number go up. To the extent that there is utility in BTC (or any crypto for that matter) that utility isn’t worth much monetarily. \n\nThe problem is that these projects have a super low barrier to entry so even if one finds a good utility use case, there’s an infinite number of identical (or nearly identical) projects that can spawn quickly to do the same thing. No matter how high demand gets, supply can match or exceed it. \n\nBut BTC isn’t infinite. While true it can be infinitely forked. An infinite number of finite sets is still, from an economic point of view, infinite.\n\nI got into this thread more just to put in my thoughts on trading anything, not to endorse or discourage what one is trading.",
"sig": "9f63965436e655eae5f09a69bead440ea386b5dd4b7512c61cd2b7e4d55d07dc140d179d492ffbf0c715ef010006f56019a69f3061ee0aa4bed0155a0cadbd43"
}