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Having sold all of my bitcoin at ~800 at a small loss (a significant portion coming from commission fee( ~$150+ to convert low four digit USD amount of bitcoins

Having sold all of my bitcoin at ~800 at a small loss (a significant portion coming from commission fee( ~$150+ to convert low four digit USD amount of bitcoins to fiat.) I am paying attention to the bitcoin prices closely. As USD gains more interest it's going to put downward pressure on gold and bitcoin. There's no way this is going to gain mass adoption by being this expensive. More importantly, this signals strong government regulation in the bitcoin and cryptocoin industry in general. I wouldn't be surprised if we started seeing security laws being applied retroactively to all the scams like initial coin offering (like IPO but unregulated and heavily manipulated) on Bitcoin and Ethereum. To the wary trend watcher, this is exactly what VC's feared and noted by the significant decline in VC investment in blockchain and cryptocurrency startups.

wyldfire 10y ago
> There's no way this is going to gain mass adoption by being this expensive. I struggle to understand what you mean. What sort of anchor are you using for how much the exchange rate should be for adoption? Cost of electricity, cost of mining equipment, cost of running a node? Satoshis are so abstract that "this expensive" seems irrelevant to everything except for historical rates. Conventional wisdom on BTC is that one element that would improve adoption would be lower volatility and that in order to get that, the market cap would need to be much, much higher. Given the fixed inflation rate this usually suggests that the exchange rate has to be correspondingly higher.