Newer coins may have growth coming, I just don't see where there is to go with Bitcoin. It's mining design is atrocious, it's useless as a currency, and I think it's mostly been surpassed by other coins in it's utility. Why would you invest in Bitcoin vs. others? Name value? Where is it's potential for future growth? Fundamentally, it doesn't make much sense now that there are so many other better options.
just a reminder the demise of crypto has been predicted about 30x in this thread now
$1300 peak bubble
The entire market is RED right now...could be for a while
high inflation and no money to be made in the market, what to do?
Yeah, and that's fair. It's the same as the people who say "see...I told you the market would crash!!!" and have been in cash since 2010.
But, what about the "store of value" and "replacement for gold" we heard so much about? And what about how crypto was not correlated to the stock market? I think those are pretty major hurdles at this point.
I think the future of BTC now depends on institutional buy in.
Quite ironic since it was all about decentralization and avoiding the big man in the first place.
Now it will have a strong future if it gets adoption by more investment firms, ETFs, banks, credit card companies and avoids regulators killing it.
It has reached a peak point in the funny money investment, and now needs mainstream to push it further as a store of wealth with no actual use.
More have to accept it as that for it to keep going.
Or to put it another way:
The pyramid has reached a point where new money isn't really coming in fast enough, so there's a pipedream that maybe some really rich institutions will arrive to save everyone's "investments".
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C'mon people, everyone knows the best currencies are the ones whose volatility means you never know what one unit will buy for you tomorrow. It's a feature!
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C'mon people, everyone knows the best currencies are the ones whose volatility means you never know what one unit will buy for you tomorrow. It's a feature!
To avoid the volatility, you could buy Tether, which is a scam all it's own!
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I find it amusing that the first tweet refers to the art piece "Barghest - Gwent Card" which is presumably derivative of The Witcher IP, almost certainly without permission. Not much moral high ground there.
PS: Not that I think intellectual property laws are remotely reasonable in their current form. Just noted the hypocrisy.
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I think people buying NFT of digital images also dont realise that they are basically buying a poster, that value in the art world is utterly posited on your abilty to have the art hanging in your boardroom or in the mezzanine hall of your multi national and it be provably individual, any digital image can be run off in the millions with no difference in image or quality
The irony is this is how we ended up with central banks, 2 or 300 years ago local banks issued their own currency, there were all kinds of local currencies but they would fail regularly and inevitably central Government stepped in to create stability and a trustworthy currency
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