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RE: Does The Market Even Care If Your Crypto Can Scale? Well, Yes...Eventually.
https://coinmarketcap.com/charts/#dominance-percentage ... at the 19th of December, for the second time in history, the market cap of btc fell to below 50%, and it continues falling.
I have problems understanding this "store of wealth"-usecase ... one would want to find some more stable asset for such a usecase, I believe the only usecase left for BTC is speculation. I call that the "tulip usecase".
"I believe the only usecase left for BTC is speculation. I call that the "tulip usecase"."
Heh, well-played.
In normal markets, your points would be salient. However, in this crazy, Wild West, California Gold Rush market, BTC might be "stable" enough (as in, it hasn't gone to 0 in 8 years) to be the "store of value" - at least for now. It's ultimate nature as highly deflationary certainly helps here, as does its lack of other real uses given the fees and transaction times.
BTC accidentally backed into the role of US$ (global reserve) for it's particular market...