How Bitcoin Does Versus Gold, Fiat and All World's Money
Cryptocurrency continues to grow and as it does there is an almost constant barrage of predictions and prognostication.
Terms like bubble, overvalued, undervalued, peaked and "to the moon" are casually thrown around the crypto sector.
One of the most important things in investing but also in life is perspective.
Perspective
Perspective " a particular attitude toward or way of regarding something; a point of view."
Keeping events and stats in context and viewing them from an educated, historical and fact based perspective is crucial when forecasting trends in the crypto world.
Today I wanted to share with you a very simple yet effective info-graphic from a Coin Telegraph article.
I won't include any commentary, I will simply let the chart speak for itself.
As you look at the info-graphic, keep these questions in your mind?
Are we in a bubble?
Is Bitcoin over valued?
Where are we on the life-cycle of cryptocurrency?
I encourage you to read the full article here
If you want to stay up to date on crypto news follow my blog @digicrypt.
Looks like there's an exchange called bitfish.io where someone dumped a bunch of BTC into an altcoin called GBCGoldCoin. The website makes it look like some sort of Russian gold reserve token maybe a Russian speaker can confirm. Not sure what to make of this, maybe oligarchs playing games.
That info-graphic felt like a 🎤 drop. Nicely done @digicrypt.
Haha I love this comment :)
Thought you might. ;)
Nice work, putting it all into perspective. I see that Bitcoin still has room for growth. Cryptocurrencies as a whole have so much potential.
The growth we have seen thus far has been exciting but we have yet to see the growth that will come from mass adoption, bright future!
Nice
I think it is still the beginning but we entered the exponential grow in bitcoinusage and adopters. First we have to pass thus year the drempels from segwit and the hardfork october 15th and lets see where it will take us then after all that. Anyway crypto in general will know massive adoption the comming years better be prepared. Take care and thanks .
We have definitely seen a huge increase in growth, but there is a lot of room for future growth! Still very small marketcap when compared to fiat.
Thanks for sharing this. So much is done in our world without "perspective".
Excellent post!
Thank you and thanks for reading!
To become a real alternative to FIAT money it has to be way less volatile... No merchant wants a currency that swinging 4% every day and he can't even hedge the risk.
But nice charts, beautiful and understandable.
Left you a upvote and follow :)
There are cryptos that are pegged to fiat, in-order to keep a stable price. I imagine we will probably reach a point where pricing in fiat becomes unnecessary though.
Thanks for reading and following!
Excellent post!!! upvoted
Thank you!
D.C.
From charts and videos I've been review over last couple days, looks like BTC may drop again. It has yet to touch 3000 again, been hanging @ 2500-2600.
Plus we are still short about 10 billion in market cap for Cryptos!
And other alt coins are getting more money....
buy alt-coin @$1 or BTC @ $2500????
Just my 2 cents :)
JR
There are certainly opportunities to make significant gains in the alt-coins. It will be interesting how BTC price reacts through July and into August as scaling debate intensifies and "solutions" begin to be implemented.
Thanks for sharing your thoughts!
Thanks for posting that graphic. It really gives perspective and shows how much growth potential there is for cryptocurrency. This explosive growth in bitcoin and altcoins certainly isn't "tulip mania."
The "tulip mania" comparison has always really bothered me, especially because people just repeat it without understanding it or the crypto space. Thanks for reading! Steem on! :)