What's the psychology of anybody investing in.Bitcoin right now?

Not very smart is what.

The vast majority of people that are buying Bitcoin, already own Bitcoin! There might be a few more people buying into the pyramid scheme, but there's also alot of people that bought at $16,000 that want to sell.

I would assume, their psychology is I want to buy bitcoin, so I can sell it at a higher price.

every 4 years the production of newly mined bitcoin gets cut in half. right now theres about 1800 bitcoin produced per day. in 2032, that number will be about 112 btc per day.

so lets say the demand for btc stays the same until 2032, what do you think the price will do?

Bulls are here. Buy low, sell high. Could drop though. Life is risk.

btw i went to the grocery store today. i noticed a new option on the coinstar machine - turn your loose change into bitcoin

adoption is slowly growing

In 2032 bitcoins will be laughed at, like we laugh at the Linden-dollars now.

I’ve never lost on it. Bought @$60, sold @$300, made a few bucks. Left it alone and watched from the sidelines as it shot up to $20k and then crashed back to Earth.
Bought back in at the end of January this year on a hunch, and the price has since more than doubled.
I’d be fine if it went to zero, and significantly richer if it went to 100k.

do people laugh at linden dollars? i really dont know anything about second life but i imagine theres no cap on linden dollars production so its value is constantly going down from inflation. but bitcoin is deflationary

i just think its wise for everyone to get 1 bitcoin. there arent enough bitcoins for every millionaire in the world to buy 1 bitcoin(which is an insignificant fraction of their wealth if they're only buying 1, mind you).

so what if you're right, yea your investment could go to 0

but what if you're wrong. what if this new generation who has been raised with technology and an ipad from day 1 starts researching blockchain and bitcoin. dont you think it might have some appeal to them as they enter the workforce?

what if btc is 500k in 2040 do you really want to be the guy saying you couldnt see this coming? when btc went to 20k to me that signaled this was serious stuff and i looked into the tech to understand wtf was going on.

its not a investment its a hedge against dollar collapse.

Yes, those who remember laugh at it, because they were hyped exactly like bitcoin is hyped today. Mayor businesses offered their goods in second life stores. In fact you were able to buy real things with them, unlike bitcoin now.
Just wait a bit and you will be able to tell the bitcoin joke in ten years.

The joke will be on you!

This

im not saying you're wrong. if you've actually researched blockchain and bitcoin and understand the technology behind why it went from pennies to 20k and its real world use case and decided its not for you, then thats fine

but i think the average person does not understand the technology, they think of it as fake internet money(like linden dollars, which has no decentralized technology behind it, it was merely numbers on a centralized spreadsheet that could be changed at will). i would encourage that person to get educated so they can make an informed decision whether the idea appeals to them