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RE: Analyst who accurately predicted Bitcoin reaching $2000 in 2017 is back at it again
I hadn't heard that about retailers stopping accepting bitcoins? I have heard mostly the opposite actually... That would be interesting though, do you have some links?
If you follow the BTC subreddit you will see the truth about Bitcoin, I don't have any specific links on hand, but ask yourself why a retailer or a consumer would want to use this payment system:
Takes hours to days for a transaction to confirm
Backlog of transactions sits at around 250,000
Transactions are irreversible
Cost to conduct a transaction is hovering around ~$6.00 (are you going to buy a cup of coffee with BTC when it takes hours to pay and the payment costs more than the coffee itself?)
Currency is still extremely volatile
Why would anyone want to pay with or accept this currency? I would like to see which businesses are starting to take it now. It is a huge headache to use. Excepting cases where the suffering is worth it, because it's the only choice on the Darknet (but most Darknet markets are now accepting alt coins too). Bitcoin must adapt to survive and it has been sitting still for many years while other coins have evolved better privacy measures and/or faster networks.
I can't really argue with anything you put here... great points. They just need to be introduced to steem, 3 second free transactions?! Just what the doctor ordered...
We can only hope. Because of the social media element inherent to steemit, I expect the network effect to be massive if it crosses a certain threshold of users. It's infuriating trying to describe the benefits of steemit to people on Reddit and being called a corporate shill. Many are suspicious of the phone number requirement, but simultaneously moan about astroturfing and vote manipulation on reddit. Hypocrites.
Redditors love their censored echo-chambers and seem to loathe the idea of a decentralized censor-proof social media blockchain where you actually get paid for participating. What's not to like!?
You are spot on with your comments misfortunecookie. The reality is that the cryptocurrency that eventually ends up being widely adopted probably hasn't even been created yet
LOL