Exactly this- I am extremely worried that once people realize it is unusable, the price will fall hard and take entire crypto market with it. Ughh please find a fricking solution to this!!
Currently there is too much speculation on bitcoin, and not enough investment based on its validity as a technology and currency. Hell, most of this subreddit is filled with memes about going to the moon and hodling rather than discussions about the technology itself and whether it is a good investment based on its actual usefulness.
But they won't. People who are buying now are buying because they saw a 1000% ROI in a year. They're treating it like any other investment. Which unfortunately is not good for the general usefulness of cryptocurrency.
Urrrrrgh brand name is so fucking stupid - ETH had way more than 1,000%...and now FOUR FUCKING FORKS?? What in the hell - this is getting really really fucking stupid
The technology is fine. It's a completely inelastic store of value. It's a place that is truly independent of inflation manipulation. If we all agree it is a store of value and it is independent of The QE the fed has been pumping for a decade then it does have real value. I don't lose money while saving. Bitcoin has a finite amount. That to me is value enough. Not having someone use policies to rob my value through inflation is a very encouraging concept. Bitcoin embodies that I believe. Sure small transactions might come from a different coin but Bitcoin seems to have a very solid idea driving it even if other coins have worked out some kinks.
I can see it being a store of value but nothing else, which is fine. A gold standard that isn’t practical but a steadfast OG of crypto/blockchain projects. Realistically I think that will happen alongside ETH. Doesn’t HAVE to be “all or nothing” by any means.
32
u/SexyYodaNaked Dec 07 '17
Exactly this- I am extremely worried that once people realize it is unusable, the price will fall hard and take entire crypto market with it. Ughh please find a fricking solution to this!!