Sorry, didn't mean to assume everyone knew the primary reasoning behind bitcoin. Satoshi was disgusted with the financial collapse brought about by bankers/wall street which needed a bailout at the expense of everyone (worldwide) through the printing of trillions upon trillions of fiat currencies. The genesis block contains the headline "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks[" for all eternity or until the bitcoin network ceases to exist. Hence, the bitcoin's decentralized (cannot be controlled by a single entity) design. Update: When Satoshi started bitcoin, very few was interested, hence the value was less than a penny. Satoshi was not doing it to get rich quick, but for ideological reasons. If the over 1 million bitcoins that he mined in the beginning were to start moving, bitcoin's value would crash to less than $1000 each, because many (including me) believe he destroyed the private keys to those addresses.
Nice thought, but I dont think we saw 800,000,000.00 market cap go to 250,000,000.00 before. Better you than me . Much bagholdery.
I guess the suckers that bought around 19k for 1 bitcoin needs to buy more to average down their investment.
That is actually not a bad idea, although it kills the "get rich quick" aspect of issuing a new crypto. I am actually debating if it is possible to do it? After all the market decides what the current value is, and even tether is fluctuating a bit. So it could happen that the issuer ties it to the dollar, but the market likes it so much that its value goes up higher, let's say 1.3 dollar. Or even higher, but the tie in would give it a minimum value at least.
That is bullshit. Every other characteristic of the cryptos would apply, except the wild fluctuation. Thinking about it more, we could make it inflation adjusted, so on average it would grow (change its tie to the dollar) by 3% annually.