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RE: Bitcoin is a speculation currency

in #blockchain • 7 years ago

This is not gambling. The technology that underpins bitcoin is real and the currency itself, while volatile, is legit as well.

Please do more research on the subject.

Ask yourself this: Given the choice: in 5 years, would you rather have 1 bitcoin, or $3500?

7 years ago in #blockchain by
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     7 years ago 

    I don't know what will happen in 5 years. It's likely that bitcoin will grow more than its value today, yes; but

    1. Its hoarding-rewarder feature will eventually blow up; but we don't know whether this will be in 5 years or 30 years
    2. I know about blockchain, quite a bit actually, I worked in fintech. Bitcoin's technology is inferior to many alternative crypto-currencies. It only has first-mover advantage. However despite that, its only use-case (that isn't applicable with digital fiat) is drug & gun trade
    3. I don't want to support a currency which is used either as a hoarding investment or drug&gun transaction

    Long story short; if a company is traditional, they won't accept BTC. If they aren't, why would they use an inferior technology when better alternatives exist?

    In the long term, it will be obsolete. But yes, in the short term, it might earn (or lose) lots of money to greedy investors.

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