oh i dont think its 'dead' in the way people often describe. More...done. Like, the period of obscene growth is over and its now seemingly settled into a fairly dull investment with mediocre returns.
From western perspective, maybe, but there are many people in the world who don't trust neither their government, nor western ones: Iranians, Russians, some Chinese, etc.
BTC is a nice safe place for money, which can't be touched by neither of state adversaries. Underperforming some other asset classes is totally acceptable, when your expectation for the brokerage account is effectively zero after arrest/freeze/sanctions.
I would buy your argument, if bitcoin were the only cryptocurrency.
For most of the people you mention, a fiduciary cryptocurrency like these 'stable coins' is the better product.
(If you don't trust the value of the USD, and thus don't want a stable coin linked to that, you could use one that's linked to Swiss Franks or the Singapore dollar.)
State actors can just hurt your famiily. State actors can setup a shadow bitcoin infrastructure and give you the feeling that your wallet is a save bitcoin wallet. They can Hijack the website you download the initial bitcoin wallet, the nodes you talk to.
It's underperformed the S&P500 over the last 5 years, but you know what they say about past performance not predicting future returns. Maybe AI will unlock an untapped reservoir of ever-greater fools.
It would be, except when the primary value proposition is capturing the upside of that volatility. In the case of BTC a sustained lack of volatility is going to create significant downward pricing pressure. At some point that will trigger a run and as stakeholders have condensed the rut will get deeper and deeper as the upside of the volatility swings continually lower.
But the volatility hasn’t gone away. Compared to previous periods of broader interest in it (rife with the awful FOMO habits of people) sure it’s not as bad, but it still fluctuates wildly and without warning. In the past 12mo it has gone as high as 120k and as low as 60k, currently around 76k. You cannot reasonably use a currency like that. Your wealth can’t be doubling or halving over months with 10pt swings over a single day being a common occurrence. How much mental energy and planning would have to go into timing any and all purchases and earning?
Better odds than a casino, but still basically a casino.
oh i dont think its 'dead' in the way people often describe. More...done. Like, the period of obscene growth is over and its now seemingly settled into a fairly dull investment with mediocre returns.
Depends on the actor.
From western perspective, maybe, but there are many people in the world who don't trust neither their government, nor western ones: Iranians, Russians, some Chinese, etc.
BTC is a nice safe place for money, which can't be touched by neither of state adversaries. Underperforming some other asset classes is totally acceptable, when your expectation for the brokerage account is effectively zero after arrest/freeze/sanctions.
I would buy your argument, if bitcoin were the only cryptocurrency.
For most of the people you mention, a fiduciary cryptocurrency like these 'stable coins' is the better product.
(If you don't trust the value of the USD, and thus don't want a stable coin linked to that, you could use one that's linked to Swiss Franks or the Singapore dollar.)
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BTC can be touched by state actors easily.
Has been proofen often enough.
State actors can just hurt your famiily. State actors can setup a shadow bitcoin infrastructure and give you the feeling that your wallet is a save bitcoin wallet. They can Hijack the website you download the initial bitcoin wallet, the nodes you talk to.
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People found a new way to turn electricity into money at the expense of the atmosphere: AI.
Fossil fuels were always worth way more than people ever realized.
Like Joni says, "you don't know what you've got till it's gone."
Ethereum, for all its other faults, has shown that burning lots of electricity is not necessary for cryptocurrencies.
Well, that’s what people have said all the way to $70k+ price.
It's underperformed the S&P500 over the last 5 years, but you know what they say about past performance not predicting future returns. Maybe AI will unlock an untapped reservoir of ever-greater fools.
Isn't that a good thing? The main argument I've heard against using bitcoin as currency is that it's too volatile.
It would be, except when the primary value proposition is capturing the upside of that volatility. In the case of BTC a sustained lack of volatility is going to create significant downward pricing pressure. At some point that will trigger a run and as stakeholders have condensed the rut will get deeper and deeper as the upside of the volatility swings continually lower.
> The main argument I've heard against using bitcoin as currency is that it's too volatile.
Also the transaction cost. Is it any better?
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But the volatility hasn’t gone away. Compared to previous periods of broader interest in it (rife with the awful FOMO habits of people) sure it’s not as bad, but it still fluctuates wildly and without warning. In the past 12mo it has gone as high as 120k and as low as 60k, currently around 76k. You cannot reasonably use a currency like that. Your wealth can’t be doubling or halving over months with 10pt swings over a single day being a common occurrence. How much mental energy and planning would have to go into timing any and all purchases and earning?
Better odds than a casino, but still basically a casino.