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Bitcoin might soon be valued at more than the entire world GDP. It's so weird, I presume that other than people moving funds around illicitly, people using BTC
by nevi-me 9y ago
Bitcoin might soon be valued at more than the entire world GDP.
It's so weird, I presume that other than people moving funds around illicitly, people using BTC for utility right now might be low. Soon we'll mostly realise that between expensive transaction costs (I hear it's now in the dollars in fees) and the amount of time it takes to process a transaction, it would be of little value to keep accepting Bitcoin at these prices.
I just feel bad for all the shops that accept BTC, because at the point where everyone wants to convert to hard currency, the prices might fall like rain.
Though I'm in the financial sector, I don't like how we currently measure market cap based on external value.
Just because some person bought my share at 246'675.60C, doesn't mean everyone sees them collectively at that value.
Lastly, in a country where ma any people are getting scammed by forex trader "this one secret" scams; I worry a lot when more and more people who don't know much put a disproportionate amount of their money in BTC. It's legitimate cryptocurrency, but its current prices are illegitimate.