Fiats are becoming outdated and will be a thing of the past soon. Cryptos(store of value) are taking over
Welp, Cryptocurrency and blockchain itself will be useful in future for sure but bitcoin itself might fail in the future.Judging from the 61 transactions it can handle per sec vs 193 transactions PayPal handles and the incentive for the miners getting lower every day it might just die sooner than you expected.
No one's talking about bitcoin in particular here. But you have made valid points, yet bitcoin dominance is still 43% and the whole crypto market follows the direction of bitcoin. So unless we have altcoin/fiat trading pairs for all alt coins, bitcoin is going nowhere. Plus the low supply of bitcoin is prob. gonna ensure that it is here to stay. For now, bitcoin is the daddy and it's gonna stay that way for a while
p.s the bitcoin mining costs shouldn't bother ppl tbh. The current price surpression is only gonna last until institutional money starts coming in and it's already started. We'll prob. see bitcoin at $20k by june
I have friends who have invested in several cryptocurrencies including etherium, dodge and a few small ones.Though they don't sell them even when there is a dip believing that it works like stocks and the risk will lower as the time progresses but I don't really think it works that way coz business and crypto is same yet so different.But again I can be wrong, I am a tech guy and don't really understand economics that much as of now.
It definitely doesnt work like stocks. But if you're invested in a good project then yes you can hold it long term and eventually you'll profit. But there are various factors to consider, the market cap of the coin, the team involved in the project, the real world application of the project. There are plenty good projects out there with strong teams. One important thing that drives the price of a cryptocurrency is the hype
By institutional money, you mean the mainstream institutional investors right? Don't they demand some sort of protection against the risks?? While many countries like India, Russia and China are actively saying to the public that it's not safe and they won't have anything to do if their money suddenly goes poof.So, how do you believe they will start investing?
Only a matter of time before soft regulations are in place which will boost the confidence of institutional investors. Plus the volatility in crypto markets it so tempting that they can't stay away for too long. Add to that the ease of manipulating the market if you the kind of money that institutional investors do. Eventually stocks will die.
Yeah that's a good argument.If they somehow implement some soft regulations it can attract the mainstream.
Also when stock market goes down 10% in a week ppl be like "the economy is in a slump" when cryptos go down 50% in a week, ppl be like "Buy the dip! Buy the dip!" Lmao