BTC useful? No! But then Rolex does?
By now people who have done their homework should know BTC is not as useful as it was supposed to be.
1. Slow transaction speed and high mining fee make BTC as good as an arrow when everyone is using a pistol in a war.
2. BTC by itself does not have intrinsic value other than FOMO(Fear of missing out for limited 21M BTC) such that eventually BTC will not sustain its value. But people believe in BTC because it was the first one on the market which sparked crypto frenzy. About 10 M holders support the cause of global currency without boarders, i.e. Freedom to the people.
3. Many BTC HODLers are now seems to hope it would remain as the sort of antique status such as Rolex. At the time of digital clocks, it can not compete with accuracy nor the convenient features. But it commands usually over 10K, when you can buy a digital watches for about $10. Will BTC retain its price as Rolex? Maybe.
4. BTC is highly centralized commodity almost at the point of Monopoly which is bad such that BTC price is at the hand of a few whales. Why intelligent adults play the game of such crypto Monopoly? Because they think they can win it even though they know the pitfalls of cryptos, since they have any better things to do. But then think about the population of crypto HODLers, 90% of them are young male aged between 24 to 34.
BTC will survive as the status of Rolex, but then it also to see if HODLers are willing to pay or wait for the inconveniences when new generation of coins are being developed now with fast, safe, and secure features without mining.
Time to study DAG based coins NOW!
1. Slow transaction speed and high mining fee make BTC as good as an arrow when everyone is using a pistol in a war.
2. BTC by itself does not have intrinsic value other than FOMO(Fear of missing out for limited 21M BTC) such that eventually BTC will not sustain its value. But people believe in BTC because it was the first one on the market which sparked crypto frenzy. About 10 M holders support the cause of global currency without boarders, i.e. Freedom to the people.
3. Many BTC HODLers are now seems to hope it would remain as the sort of antique status such as Rolex. At the time of digital clocks, it can not compete with accuracy nor the convenient features. But it commands usually over 10K, when you can buy a digital watches for about $10. Will BTC retain its price as Rolex? Maybe.
4. BTC is highly centralized commodity almost at the point of Monopoly which is bad such that BTC price is at the hand of a few whales. Why intelligent adults play the game of such crypto Monopoly? Because they think they can win it even though they know the pitfalls of cryptos, since they have any better things to do. But then think about the population of crypto HODLers, 90% of them are young male aged between 24 to 34.
BTC will survive as the status of Rolex, but then it also to see if HODLers are willing to pay or wait for the inconveniences when new generation of coins are being developed now with fast, safe, and secure features without mining.
Time to study DAG based coins NOW!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.