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The reason why I think Bitcoin's success (read increasing in wealth infinitely against fiat, albeit slowing down over time) is more probable than its demise is
by jraedisch 7y ago
The reason why I think Bitcoin's success (read increasing in wealth infinitely against fiat, albeit slowing down over time) is more probable than its demise is not that it is some kind of replacement religion for me. It is just that I have so far not heard any good arguments why it would not succeed.
Of course opponents might say: why should it succeed if they see no reason for it to succeed.
That position is completely acceptable to me, but the risk of losing out seems too high for me, so I invest a little bit, just to hedge.
And because many people might do that, it could succeed. As long as there are no good arguments against holding a little bit. Which there aren't.
Except maybe the ecological footprint. As soon as someone finds a solution to that without sacrificing the other qualities, a hardfork will surely succeed.
- nosuchthing 7y agoThere's no point in a hard fork when you can just start fresh, and mint a new network of cryptocurrency. Especially due to the fact that the early cryptocoins like Bitcoin, Ethereum, and Monereo each designed their supplies to dump into a plutocratic distribution.
- jraedisch 7y agoI think there is big value in continuity of store of value. People will be easier to convince if they do not lose stake when forking. One would not be buying BTC if one would fear that it can be replaced easily while destroying one's savings.