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> no demand “No demand”. Isn’t Bitcoin still trading for several thousand dollars? Maybe you, and maybe most people, don’t have any want for cryptocurrency, bu

• bduerst 8y ago
  Most of the increase in transactions you see now are from HFTs speculating, who generate demand on any high-risk instruments if they think it has a return somewhere. Demand for Bitcoin as an asset isn't that different from any other commodity, but demand for Bitcoin as a currency is not there as many competitive substitutes exist. https://www.bloomberg.com/news/articles/2017-01-16/high-speed-traders-are-taking-over-bitcoin-as-easy-money-beckons https://www.bloomberg.com/news/articles/2017-01-16/high-spee...
  • duskwuff 8y ago
    And that's when the transactions are even real. There's significant evidence that >80% of volume is wash trades used to drive traffic to fraudulent exchanges. https://www.blockchaintransparency.org/ https://www.blockchaintransparency.org/