Bitcoin is overpriced because Litecoin offers more, and also the uncertainty of Bitcoin on Aug 1. I could agree with the statement that Bitcoin is fairly valued and that litecoin is undervalued also
A lot of cryptos offer more than BTC, but BTC is being used as equivalent of gold at the moment... you can do more with cash, but cash is still backed with gold... cryptos are creating the same structure at the moment..
Indeed, mine was just an example... But Cash is backed by gold... Each national bank is obliged to keep a certain amount of gold as store of value... It's not a real conversion but something around 10% if I'm not wrong...
Bitcoin is overpriced because Litecoin offers more, and also the uncertainty of Bitcoin on Aug 1. I could agree with the statement that Bitcoin is fairly valued and that litecoin is undervalued also
A lot of cryptos offer more than BTC, but BTC is being used as equivalent of gold at the moment... you can do more with cash, but cash is still backed with gold... cryptos are creating the same structure at the moment..
BTC seems to make a much more attractive and practical store of value than gold.
Cash isn't backed by gold though..
Indeed, mine was just an example... But Cash is backed by gold... Each national bank is obliged to keep a certain amount of gold as store of value... It's not a real conversion but something around 10% if I'm not wrong...