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RE: The Winklevoss twins: BTC future market cap at over $5 trln

in #vincentb7 years ago (edited)

Great post and thanks. I think those numbers are over-inflated by two guys with a history of hyping my friend. If you do the math, you will see that only two currencies have that type of "activity" and BTC shows every sign of it not becoming a currency. Currencies need to be stable for them to be adopted. i.e. if you want to buy milk both you and the grocer want to know how much it costs. If BTC appreciates that amount no one will sell and no one will take it so it will not be a currency. If it is a store of value like gold which is the other possibility, you have a similar problem, gold is also look at because it is stable.

So if BTC appreciates that much (and no sensible person thinks it can or will), you will neither have a currency nor a store of value, you will have what you have now which is a tool for speculation and the governments will not allow for their to be a $5T tool for speculation.

We already have a derivatives market for that which is currently under heavier and heavier regulation because it caused the crash in 2007. We should hope one of two things happens with BTC, that the prices stabilizes at whatever level so business and government can take a serious look at how to use it and two, that sensible regulation comes in so the games being played with it right now in terms of manipulation and scams get removed.

Then the industry particularly has a bright future at whatever level it achieves. Thanks and keep posting.

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