[Zimahl]

The problem with the Bitcoin game is there is no longer the 'millionaire overnight' scenario as a possibility. Sure, you could buy 1 coin and it could go up 10x, yet you'd still only be (at this time) $90k richer. Which isn't bad but the big climb from decimal places up to full dollars is where there was more possibility. Common folks can take a gamble on 100 coins for $1 a piece, they really can't take a gamble at $3k+ per coin. Thus, that's why we sit in the $3k to $9k range. Too few people to join, too many people holding on because they bought at a higher price.

I also don't think psychologically people want to own a decimal place of something but that's a different issue. If people could still buy 100 bitcoins, they'd probably do so.

[JohnJamesRambo]

A 10x is actually fine by me.

[Zimahl]

Like I implied, yeah, it would be fine with a lot of people. But that's not the same as buying 100 coins for $100 and then those coins are worth $10k each and you're a millionaire. That big multiplier is what got people interested in the first place, but it's gone. The equivalent of that now (with coins at $9.3k) is 100 coins at $933k. Sure, to make a million you just need to just over double the bitcoin price but you need almost a million dollars to make that happen.

[teh_infallible]

Another psychological phenomenon which I suspect is relevant- people don’t want to buy into something at an exponentially higher price than their peers. I think there’s a spite/jealousy thing between “OG Bitcoiners” and “no coiners”

[alwillis]

If you had bought $10 worth of bitcoin starting on Oct 21, 2015, and continued to do so every month for the next four years, your total investment of $480 would be worth around $3,337 today — a gain of 595% (as of 10/21/19).

Coinbase: https://blog.coinbase.com/charting-the-course-of-bitcoin-11-...

[r32a_]

Lightning network payments are denominated in sats. So you can buy 1 Sat for $0.0000945 USD