You are viewing a single comment's thread from:
RE: My Answer to "When Should I Buy Bitcoin...?"
Luke, I agree with most of what you said, but what good is bitcoin at $100k if its value is directly linked to centralized exchanges that are just 1 execute order away from being shut down?
As it stands today, the exchanges are what gives bitcoin its value! Take away these centralized entities, what is bitcoin worth then?
This uncomfortable facts bothers me very much.
There are a lot of decentralized exchange projects and we have localbitcoins and BitShares. I was there in 2013 when MtGox went away. Bitcoin took a hit, but it came back strong. Bitcoin is not exchanges. It lives beyond them. As long as people want an non-manipulated way to store and transact value, there will be demand.
Exchanges are just for trading money for coloured paper.
When enough of the economy accepts bitcoin, it'll be a moot point.