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Bitcoin Will Never Hit $69,000 Again Because of the Merge, Researcher Claims
- WheelsAtLarge 4y agoIt's true that at some point Bitcoin is going to have to deal with its energy issue. If it ever changes to something else then it will be hard for people to justify the $69,000 peak in any situation with out there being a direct utility. But you can't discount the "Network effect." That's where the real value comes in. Can Bitcoin survive long enough and be improved to see it become a holder of value for all the world? It's too early to tell. Ethereum's merge needs to demonstrate its security before we can come close to decide how it will affect Bitcoin's future price.
- yuan43 4y ago> Bitcoin will never hit $69,000 again — and the world's biggest cryptocurrency could end up being "regulated away," a researcher has warned. The cognitive dissonance in that sentence was worth the click.
- jdmark 4y agoWhat you should be scared of is Biden's executive order banning "Proof of Work". "Using the energy-intensive proof-of-work consensus mechanism, could be banned in the U.S. under a proposal made by the White House Office of Science and Technology." https://www.forbes.com/sites/billybambrough/2022/09/08/limit-or-eliminate-biden-executive-order-triggers-shock-us-bitcoin-ban-proposal-after-radical-ethereum-upgrade-and-wild-crypto-price-swings/ https://www.forbes.com/sites/billybambrough/2022/09/08/limit...