You are viewing a single comment's thread from:
RE: Why Bitcoin will fail (and it's not because of what they say in the mainstream media)
Thanks for the writeup.
However, one of your major arguments against Bitcoin is the fact that it's rapidly rising in price, so you don't want to spend it because you feel like you'll lose out on future gains.
Can the fact that it's rapidly appreciating really be considered to be a problem? Or is it more of an issue that may indicate that Bitcoin will succeed, but perhaps not in the way that we originally thought that it would?
It's that until Bitcoin is widely accepted, it could be replaced by another technology. If nobody is spending their BTC, it's hard for it to become widely used. Right now the price is, IMO based on speculation, so if one day it is superseded, then the price will crash quickly.