I think many of us actually don't go to any lengths to search for truth. I don't know what you opinion is on inflation, but its an absolute crime. You have officials gaslight us into thinking 2% is good, but when you really study the topic, you understand that this is the sweetspot they figured out most people put up with. It is not necessary and its outright theft. Inflation is just another tax that governments use to extract more money out of you. Most people don't know this, and if they did, I like like to hope there would be more pushback. So I think its not that we need to discount information more, we need to search more. Of course there will be lots of garbage out there, but if everyone searched more, we would all develop better filters. Another thing I learned is that what the US has essentially done these past few decades is export inflation. We buy cheap goods and give them depreciating fiat. The whole system is designed for the world to run on the US dollar which gives the US incredible power. The world is now re-balancing and as countries become more less global, or change trading partners or currencies, that inflation will come right back to the US. So I think its just the beginning of a lower quality of life for US citizens. The rest of the world gets better while the US has to sucks it up. The people at the bottom will absolutely revolt when it become obvious the system isn't working for them. Lots of US citizens are already moving from blue to red states, but the smarter ones are one step further by leaving the US all together. (Have you heard that Dollar General is closing 1000 stores? Jesus, even a dollar store can't survive... what does this say?) I am very bullish on the US long term though. But first we need the current system to break and go on a bitcoin standard. Then people can get back to to building in a fair and equitable system and then we can watch the US prosper again. Its like an earthquake. Pressure builds up, and eventually the quake happens. Then you see major shifting in fault lines, roads are ripped up, but then you rebuild after all that pressure is released.
And Baron is even more in profit now with BTC at ATH for like the third week in a row. Last print for BTC I saw was ~72K per. Who is going to still poo-poo on his position, at ATH when his AWP is what it was?? Could this be a reverse pizza-gate? When will Baron start taking profits? Hmmm!
Annnnnyday now. Maybe it will ... the day the concept of overvalued/undervalued exists when buying/selling anything. Value is what someone will pay or sell something - at that moment in time. All other valuation talk is just that, talk.
Never said that. Real stuff is tethered to the real world. Value can then be attributed to it fairly objectively, which may or may not intersect with the sentiment at any given time. (Consider Soros's theory of reflexivity.) With crypto, there is no such comparative benchmark - it's all just made up in its entirety depending on the moment and absolutely nothing else. You may well be making money in crypto, and good for you. But you have no idea what you are talking about.
Also,there is the hurdle of: 'I can put 1 of 2 things in your hand,a $100 bill or this seed phrase,which do you want?' Until you get your head in the digital world,you still value paper over what could possibly be a $50,000 account. Not the best analogy in the world obviously,but they give you a coffee and toasted sandwich at McDonalds when you tap your card so I'm not sure how people can remain oblivious to digital value.
If it were a digital currency with economic backing, then it would have value. Crypto has no such economic underpinning. It's all just evangelism and whim, which is why its volatility is so feverish.
A) I know. I did. You said "My gut feel is that one day there ..." IOW anyday, otherwise put a date on it. B) Real stuff is tethered to real buying and selling, not opinions.