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RE: How Many Daily Active Users Does Steem Have? Live Witness Update #3
Yes because our minds often have a hard time comprehending how good things can go while picturing bad is easy. When I had Ethereum at $9 I had a hard time picturing it being $50 let alone $600. When Bitcoin was $200 it seemed insane to picture it at $19,000 for a high and around $9,000 today. The best blockchains still have 100x growth possible while most will fade away. Bitcoin I think is on the way out as exchanges add fiat trading, ETH markets, and BCH. In five years I doubt we will even use Bitcoin as everything is traded in fiat. I think beating the all time high in BTC for Steem is easily achievable
To clarify things for me, do you think that BTC will die?
BTC is likely to go the way of myspace where people will just stop using it in favor of other cryptocurrencies because one the idea starts to slip that it is a store of value and exchanges go to trading directly to fiat and other cryptocurrencies, the big Bitcoin holders will unload and it will all be over for BTC.
That could become true one day but Bitcoin itself probably won't ever be forgotten like MySpace
I must agree with what you said here. From when I got into crypto in 2013, I NEVER pictured LiteCoin making it back up to $20 at the time. Now trading at $150 Approximately.
BitCoin I just didn't expect it to go from 3k to 19k so fast, and it did.
I think Steem will be the same thing as LiteCoin. It's trading low right now. <$5. Yeah switching from $3 - 4 back to 3 is crazy, but add a 0 to that and it'll make a difference.
Other Blockchains will someday pass up bitcoin as bitcoin we all know will fade a way. It won't die out completely because there will always be a node online somewhere in the world. Even after the world Apocalypse. BitCoin is a resource hog. It consumes so much power that is destroying our world. To mine the coin, you need massive amounts of money for the hardware. You need a warehouse to put all the computers. And even with all that, you won't be mining a fraction of the hash power.