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I'm sure I posted this here before but here goes. I own a restaurant that sits in the middle of a financial district with three of the largest institutions in t
by sureaboutthis 8y ago
I'm sure I posted this here before but here goes. I own a restaurant that sits in the middle of a financial district with three of the largest institutions in the world. For years, these customers have told me to stay away from bitcoin. Then my nephew graduated with his degree in finance and went to work for one of them and, last year, he predicted that, in two years, bitcoin will be dead cause these institutions will be introducing their own instrument.
Judging by the sell-off over the past year, he just might be right.
- sekai 8y agoSell-off is from the huge run-up in 2017, not because it lost to something regarding fundamentals side of things, BTC adoption is at the all-time high.
- sureaboutthis 8y agoAt the moment, it's at 20% of its highest value from just 11 months ago. To me that's a sell off.
- sekai 8y agoYep, but because of the previous parabolic run-up, not because some new actors in the fin space are threatening it. In my opinion, BTC is completely unique and driver by a free-market economy, thus the average economist can't really know how to define it's movement, because honestly, no one really knows.
- someguydave 8y agoYou do realize that Bitcoin adoption constituites a mortal threat to the financial business? Perhaps that is why they were dismissing Bitcoin.