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RE: Bitcoin will likely take 1 of 3 paths

in #bitcoin7 years ago

My Reply to the statement "Bitcoin ... will be worth much more in the future.":

Yes, this is valid today. TODAY. ONLY TODAY.
Now Fast-forward in time some 30+ years, and imagine BTC is worth $2-3 MLN . Would you still (then) think "it will be worth much more in the future." ??? I think the answer is obvious.
As obvious is also another thing- the validity of such statement will slowly go away.
Not overnight, but day after day, YEAR AFTER YEAR, DECADE AFTER DECADE. Spending will grow, slowly, continuously. So will the level of acceptance, popularity, market saturation, etc etc.
List goes on and on.

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Yes, at some point Bitcoin will stop going up in value, or will increase at a much slower pace. But by then (as you said it could take many years) another crypto (or even something else entirely) that is better suited and designed as a currency will have taken over that position, so Bitcoin will either remain a store of value or collapse.

Bitcoin apart from being a currency does not have much value added to it. Every crypt in future will be rising based on demand, and adoption. And demand ultimately drives adoption. However, apart from that one of the key that drives both demand and adoption is value like steem.

So I think, in future as you said, these newer crypt which have some value behind will rise, its only a matter of they being traded directly instead of in terms of BTC.

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