The Future Of Bitcoin
I was asked why I am negative on Bitcoin. The reality is I am not. Whatever is forecast in terms of price, I am not going to debate it. Certainly any of the numbers tossed out could be possible.
In this video I discuss how I do not think Bitcoin is the end all and be all. There are certain areas I can see it fitting and others where I think the maximalists are completely amiss.
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STOPCheck out the last post from @hivebuzz:
Bitcoin is the flagship of cryptocurrencies, the calling card for new users. It may not be the best option to massify the use of cryptos on a daily basis but it works very well as a recognizable face and a firm step one in this world.
That it does although we are going to get to the point where people do not really care about a particular blockchain or the base currency. Some will but more are only going to be interested in the applications they are using.
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This interesting, I have learnt alot from this. I just read about hyper-inflation by edicted. Now I'm reading this. You are right, Although we should hold a little bitcoin but it is also possible it has it's limits! There is alot in play with so many elon musk's holders hahahaha . It's the reality you speak of, it's alot complicated. Btc is unique and all that. but the really is in this statement which is deep and insightful;
"you have to look at people's store value or what people think about money through their generation eyes not through your own eyes"
Thanks for this Video.... !PIZZA
That is a lesson I learned long ago. People's view on things change, mostly aligned with their generation. This gives them a different experience.
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It's pretty much my view as well but I never considered BTC being a big store of value because Boomers are dying off. I guess the younger people will be less adverse to BTC and they will buy in to reduce the volatility.
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Thanks for the insight! Extrapolating from the argument… HIVE being inflationary in nature, seems like a fertile ground for innovation!
Summary:
In this video, the speaker addresses a question he received about his perspective on Bitcoin, clarifying that he is not negative about Bitcoin itself but rather challenges the notion that Bitcoin is the answer to all economic problems. He discusses Bitcoin's potential future as a store of value, its role as collateral, and the impact of its adoption by major players like corporations and institutional investors. The speaker also compares Bitcoin to traditional assets like gold and emphasizes the changing perspectives of younger generations, suggesting that the future adoption and use of Bitcoin may differ from current expectations.
Detailed Article:
The speaker opens the video by expressing his positive outlook on Bitcoin's potential, emphasizing that he believes Bitcoin has a promising future and can offer significant returns on investment for individuals. He addresses a misconception that he is negative on Bitcoin, clarifying that his concerns lie more with Bitcoin maximalists who view Bitcoin as the ultimate solution to economic issues. The speaker critiques the fixed supply of Bitcoin, arguing that if Bitcoin were to replace fiat currency, the global economy could collapse due to a lack of money circulation.
Furthermore, he discusses the potential scenarios where large entities such as Wall Street players, central banks, and tech CEOs like Elon Musk and Jeff Bezos could heavily invest in Bitcoin, driving up its price to a point where average individuals holding Bitcoin may choose to sell. The speaker points out that while Bitcoin could appreciate significantly in value, it may not solve wealth and income inequality issues as some proponents suggest.
The speaker delves into the concept of inflation, highlighting its role in economic growth and technological advancement. He argues against the idea that deflation is a better alternative, citing historical instances of deflation causing economic hardships such as the Great Depression. Additionally, he speculates on the role of Millennials and Gen Z in shaping the future adoption of Bitcoin and suggests that these generations may view assets like gold differently, potentially favoring Bitcoin as a store of value.
In conclusion, the speaker acknowledges Bitcoin's unique characteristics and potential as a widely used collateral asset. He speculates on the future price levels of Bitcoin, suggesting that it could reach unforeseen heights. Drawing parallels between Bitcoin and traditional assets like gold, the speaker asserts that Bitcoin's value may transcend its initial purpose, much like how technologies such as Twitter evolved beyond their original intentions. The video ends with the speaker encouraging viewers to have a great day and hinting at future discussions on these topics.