Bitcoin Valuable Because Of It's Limited Availability? No. By Gregory Mannarino
You hear a lot from Bitcoin holders that what gives Bitcoin it's value is it's "limited availability," 21 Million to be exact.
Well with this logic, any company with a limited amount of public shares should then reach stratospheric price valuations. Right? Well in reality it does not work that way, and this kind of thinking does not consider even a basic factor like competition from competing products for example.
In the case of Bitcoin or even a company, the price action is dependent on much more than it's "limited supply."
Gregory Mannarino, "The Robin Hood Of wall Street."
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characteristics who survived 6000 years. For me Bitcoin is worthless. Just buy Bitcoins when Greg Mannarino tells it. It's just a game. Steem or Ether is the much more better option. They have real value.i awaloys resteem and upvoted your post ... @marketreport
@marketreport...well said. Many compare Bitcoin to Gold and even claim it will replace Gold. It's true, Bitcoin is limited even more then Gold. And it's true, nobody can steal your private key. This 2 points are better then Gold. But there is a 3 point. Bitcoin can be forked (Bitcoin Cash and more). Gold can not be forked. Gold has unique characteristics who survived 6000 years. For me Bitcoin is worthless. Just buy Bitcoins when Greg Mannarino tells it. It's just a game. Steem or Ether is the much more better option. They have real value.
"I have not seen any product up to now with such a steep graph, but Bitcoin is following the steepest path I've ever seen in my career," Roach said, noting that Bitcoin is the hardest moving financial product he has seen up to now.
Bitcoin, which has gained more than 11 kattan since the beginning of the year, ran to the limit of 12 thousand dollars. The crypto currency, which has been experiencing very hard ups and downs in the recent period, continues to record series against all warnings.
The market value of Bitcoin is past the total national income of many countries and the market value of giant companies.
@slayer10..."continues to record series against all warnings"...It's an other game with the futures now. I wouldn't bet on that. Change Bitcoin to Steem or Ether. Steem and Ether almost recoverd already. But not Bitcoin.
Bitcoin might be valuable as a store of value or it should be but lately it's been too volatile
@joeycrack...Till 2-3 months ago I thought, maybe it could be a store of value if all the world is focusing on Bitcoin. So Gold would be history. But it can be forked. That's the killer. I'm 100% sure about this now. And as money Bitcoin is not usefull (slow and expensive). So there is no need for Bitcoin. Steem and Ether have real value. They almost recovered already, but not Bitcoin.
@mafsteem, Please can you throw more light on this, would love to know why.
We've come to accept bitcoin as the mother of all cryptocurrencies, and it is also used to get altcoins. So is Ethereum taking over? Steem and steem dollars doing pretty good. I have friends that have invested in steem without knowing about steemit.
@jeline...First, Bitcoin could still keep the leading position. But just because people still beleave in this. Because Bitcoin was the first. There is no other reason. That's too risky for me. Steemit everybody can see here. It works. It's the only application it is used on this scale. I'm convinced about this application but not 100% about the security of the blockchain-principle (graphene) behind. I follow this regularly to get more infos about that. Ether has also applications they are in use every day. For example ICO. And also AXA (big insurance company) is selling flight insurances over Ethereum and many others. But each one of this applications are not so big like Steemit. Steemit couldn't work with Ether because it would be much too expensive. But the security is 100% sure with Ether-Blockchain. I comprehend the principle behind. Very secure. I could go even more in detail. There are no other Coins they have applications in the real world. So I focus on Steem and Ether. Maybe one day I see that the Blockchain-principle of Steemit (graphene) is as secury as Ether. Then I would change everything to Steemit or Bitshares or EOS very fast.
@mafsteem, I get you now, so when it comes to cryptos, security is the first check right? Do you see ethereum passing the $10,000 mark next year by this time, like bitcoin did, and steem approaching $1,000?
Steem seems very promising and ether also, am looking to invest once I can
But at the moment it's seems like a bearish correction looms let's see how it goes to recover
@joeycrack...I think the bearish correction is already done.
Really? So what do you think is goin to happen next
@joeycrack...Example with Ether. Ether dropped from 857$ to 560$ the 22 of Dec. I'm quite sure this was the bottom. Then it went up to 740$ and down to 610$. Now again up to 740$. Now I would wait to drop again around 650$. It can be in this range for a couple of weeks but 1 day it will rise abouve this range. I wouldn't wait too long to buy this opportunity. Probably it will be the same with Bitcoin. As you know, Bitcoin I don't touch.
I didn't know, so why don't you touch bitcoin? Because am considering not touching anymore
@joeycrack...80% of Bitcoin-miners are in China. This way China could manipulate Bitcoin. Bitcoin is slow and expensive. Bitcoin can get forked, so it is not unique like Gold. Bitcoin is under control of the futures now. This is very bad. I don't see any long term value in Bitcoin. Very risky.
Thinking the same. Everyday a new crypto coin is created - so that does not make it unique and all that seldom. Upvoted and resteemed.
thanks for sharing about bitcoin.
#FAKEMARKETS
Very necessary post .follow,upvote amd @resteem post
Resteem and upvote now sir:)
Resterm and upvote done @marketreport