Bitcoin may well enable anonymous transactions, which is why it has been widely used by savvy members of the underworld.
But is your average Joe who holds Bitcoin buying it for this? I doubt it.
Where is the utility in it? How many people are using it for paying for things on a daily basis? How many new merchants are adopting it each day?
The vast vast majority of investors are in it for no other reason than the greater fool theory, and want to cash out back into US dollars, GBP, or whatever.
Bitcoin is clunky, expensive, and slow. Other coins have a much better potential utility I believe - XRP being my preferred choice.
With all that said Bitcoin is great to trade.
I am watching the crypto space with interest - but to some (many) it has become a religion - where no other asset is worth considering.
In fact, the crypto crowd is as bad or even worse than the gold zealots IMO
In trading it pays to be agnostic - not so thoroughly in love with your position that you can never see any downside.
Taking into account its advantages over fiat I am sure that it is the currency of the future. Mass adoption is coming on the other hand its transactions very often are too slow and too expensive. Taking [Removed for forums policy violation] into account I guess that Dash has a very good chance to increase its value during this bull run.
Cryptocurrency will be the most or main used currency in near future. Not just only bitcoin. I buy ARTDECO, it,s an Elon Musk-inspired Defi Platform. Quite good for earn good.
BTC wonât ever be a viable currency until its network is updated and price stabilises somewhat. It has been left behind in terms of what makes it a viable currency by many other altcoins.
Bitcoinâs status as a currency of the future seems a little shaky these days, what with China banning it and its mining. I guess that is a major reason why its price is crashing like it is now.
While there are always possibilities for the future, I do not think it could really manage to happen in reality. There would be too many downsides especially for banks and what about managing to have different countries agreeing on this? I think it woul not be possible.
I think everything is possible, but not everything is possible. I do believe Bitcoin will see wider acceptance in the future, possibly by banks as well, but itâs going to be a long and difficult road. It wonât happen overnight. If it happens in the next decade it would be a surprise.
Once I started thinking that maybe ETH 2.0 will be the currency of the future but after the recent update and still high fees I guess that BTC is still number 1 contender to displace fiat money, my opinion.
perhaps Ada will take some significant part of the market. Taking into account how fast it is developing. Also I recommend to have a closer look at Safemoon coin. They say it is worth considering.
@Miguelitos Safemoon was quite popular in the initial days but i donât think people are now much interested in this crypto. Safemoon doesnât provide any competitive advantage over other cryptocurrencies and even the process of buying it is a little complicated and when you want to sell it, you have to pay 10% fees. That means you can only buy it if you want to hold it for a long time.
@Miguelitos ADA is definitely worth giving attention. Iâve always been interested in cryptos that strive to improve and just donât stay on old technologies. Cardano is advancing continuously and the transaction costs are much lower than the conventional banks.
I like how this thread stills alive for almost 10 years. It means nothing, but cryptocurrencies are really our future. The topic starter was 100% right. Bitcoins back then were a joke, but now this coin put the whole â â â â upside down. Chip deficit, increased energy consumption that affected the entire industry, and insane speculation - itâs weird, but our future. As for me, I would better seek something more volatile, such as shiba inu or floki inu coins. Despite high risks, these cryptocurrencies could make you rich out of nothing.
Bitcoin has its peculiarities. Because bitcoin is a young currency, and most who trade in this market have no experience. Therefore, they easily succumb both to the excitement of the game and at the same time panic. Most different events make them buy or sell in droves, and as a result, the rate is constantly feverish. However, the general condition remains unchanged: the price of bitcoin is continually growing. And this trend is unlikely to change shortly. I started to study and use an online platform to buy cryptocurrency.
The data shows that 2021 saw an estimated $489 billion of processed BTC per quarter, while PayPalâs 2021 numbers come to $302 billion, again per quarter. Although impressive, BTC transactions have a steady and firm lead of a whopping 62%.
According to projections, it may exceed the volumes of Visa and Mastercard by 2026.
I personally believe that bitcoin can possibly become the currency of future, because despite the fact that it has downtrend nowadays, itâs just a correction and experienced traders would never think that itâs a fall of bitcoin. Nowadays everybody knows about bitcoin and almost every 3-4 human being tries to find some ways to invest in it. Thatâs why we saw the huge downward correction from almost 70k$ to 40k$. Anyway, bitcoin had such situation in 2017 and as we can see it grew up to several times from that times. I believe in it and advice all traders to believe in it and keep it in the wallet.
on the other hand its transactions very often are too slow and too expensive. Taking [Removed for forums policy violation] into account I guess that Dash has a very good chance to increase its value during this bull run.