I 100% agree with you. The problem is, the bigger it gets, the clunkier it becomes and the more power it needs to create bitcoins. Also, it's a confidence game. Your currency is worth money only because of the confidence it can attract. Once that goes, there is nothing to shore up the value. There are too many players in the cryptocurrency market that provide a better alternative to what Bitcoin offers for Bitcoin to continue to increase in value. Its primary function, now, is the ability to buy other cryptocurrency with it, but if Bitcoin's value sinks, other cryptocurrencies will too. It's a standard against which other cryptocurrencies have been measured, too, but they can also be measured against $US. In the recent price plummet, I notice that Ripple (XRP) barely lost value, same with Neo. These coin offerings have real life application. If Bitcoin goes down, they all will. And they'll be replaced by a newer model, that's measured against something else. Bitcoin is a currency. I seriously think the Neo model is the way forward - where the coins are shares in the business.
Don't forget that the original founders and the investors after them are still holding onto plenty of coins to provide stronger confidence. If the bubble pops and plummets like it did during the last major update, they will likely inflate it again.
I feel it too. Steem does a much better job than Bitcoin in many aspects. I just don't see its usefulness at all right now
I 100% agree with you. The problem is, the bigger it gets, the clunkier it becomes and the more power it needs to create bitcoins. Also, it's a confidence game. Your currency is worth money only because of the confidence it can attract. Once that goes, there is nothing to shore up the value. There are too many players in the cryptocurrency market that provide a better alternative to what Bitcoin offers for Bitcoin to continue to increase in value. Its primary function, now, is the ability to buy other cryptocurrency with it, but if Bitcoin's value sinks, other cryptocurrencies will too. It's a standard against which other cryptocurrencies have been measured, too, but they can also be measured against $US. In the recent price plummet, I notice that Ripple (XRP) barely lost value, same with Neo. These coin offerings have real life application. If Bitcoin goes down, they all will. And they'll be replaced by a newer model, that's measured against something else. Bitcoin is a currency. I seriously think the Neo model is the way forward - where the coins are shares in the business.
I agree...Bitcoin is becoming to large that sending bitcoins to another wallet takes ages. :( Kinda sad
Just provides a higher demand for mines, and a demand for miner improvements until that becomes over reaching.
Don't forget that the original founders and the investors after them are still holding onto plenty of coins to provide stronger confidence. If the bubble pops and plummets like it did during the last major update, they will likely inflate it again.