Bitcoin won't die - that is a mathematical certainty. The algorithm and formula continue to function, and will do so for ever (well as long as we have computers on earth anyhow). However the price people are prepared to pay for a bitcoin has certainly declined over the last year. Good for those who bought low and sold high. Not so good for those who did the reverse. Hodlers have the dilemma of having to sell now, and salvage some of their money, and "realize the loss" or hodle and hope for the best. BTC is still works for some short term money transfers. For example, I know of someone who recently sold a house in Thailand for around 2m USD. Due to capital control laws, no bank was allowing him to transfer out. Solution - he bought BTC (anon as done peer to peer) and the flew to the country where he wanted the funds and sold his BTC (again PTP). Well he sold part of it any how. He decided to keep part of his funds in BTC as he was so impressed with the transfer-ability and ability to access his money anywhere. And that is a problem, given how much BTC has dropped recently. Lesson for all - if you are "investing" into an asset that cannot be valued, be it gold, art, crypto etc, you really are at the mercy of animal spirits. Your asset could reach an infinitely high or low values, dependent entirely on what another person ("sucker"?) is willing to pay. On the other hand, if you buy a yield-producing asset, its short term market value should not really matter to you, as the nominal value of the yield it produces would remain unchanged. And long-term, you know that the market value will be realized over time, as driven by the yield. This is a mathematical certainty. Understanding this very basic concept is the key to long term successful value investing.
