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I really don't think cryptocurrency in general is a going anywhere; I don't think this is even the tip of the iceberg in terms of where this is going to lead. T
by RosanaAnaDana 9y ago
I really don't think cryptocurrency in general is a going anywhere; I don't think this is even the tip of the iceberg in terms of where this is going to lead. There are reason however, why bitcoin specifically might bubble and collapse. The main issue being the fact that at the moment its not reasonable to use bitcoin as if it were money, with the prime cause (in my eyes) being the cost of transactions. I do think bitcoin will collapse (not any time soon), but I think the contents of that bubble will find themselves in other, technically more useful cryptos. Not being able to move bitcoin around with out these ridiculous transaction fees is why bitcoin will eventually collapse. Its not (as) useful as a store of value in its current form than a store of value that doesn't have acost for its use.
- heurist 9y agoWe need to give up on the idea of bitcoin being used as money. It wasn't designed in a way that would encourage holder to spend it like money until a stable valuation is found when everyone in the world is holding it. As Yellen said, it's a highly speculative asset. Small chance of massive yield, large chance of small failure.