I pointed out that your opinion is wrong. Your argument is based on feelings and opinion and has nothing to do with a monetary system. For clarity's sake, BTC (not crypto) is a hedge against inflation, and not (yet) really a currency.
iFinex? You mean FTX? You are proving my point as it is a centrally controlled exchange, not a decentralized solution.
If we can go back to private wallets? Most control their own wallets and there are decentralized exchanges (e.g. Uniswap, Sushiswap, etc.) that are LARGE. You rarely need a centralized exchange except to buy/sell those crypto's not available on centralized exchanges. And even cashing out is moving to stable coins like USDC (which VISA is moving towards adopting.) Again, you show your lack of knowledge.
There is no value of a coin without saying the supply. $4 X (supply) = market cap. BTC has only around 18 million coins right now. BTC needs to be worth a few trillion in market cap to function as intended. You really don't understand basic economics.
I rest my case, you don't know what you are talking about but thanks for proving that to anyone with a little bit of knowledge of crypto that happened to read this thread.
Call it an opinion all you want. The price of btc over the last 18 months says otherwise.
IFinex, the scammers that operated Bitfinex and the laughable Tether. Yeah different from FTX, dummy.
The value of all the coins are manipulated by the centralized exchanges, plain and simple. Every time one is exposed as having no money to back their users, the price of btc drops. It’s like watching dominos in slow motion. Who’s next? How much will your precious investment (oh sorry, currency) be worth when Gemini, Kraken, Binance are exposed?
You go back to price but don't understand it. This is called an S Curve and is typical in discovery. Even happens in the stock market.
Centralized entities will constantly try to take crypto down. Remember I said it isn't an answer but a step in the write direction.
I don't care if Gemini, Kraken, Binance go under. To a point, we need that for crypto and true decentralization to happen. True to it's roots.
You had an expert on crypto right in front of you but I didn't show you my cards early on. Instead of asking intelligent questions, you tell. And then BS some more.
Exactly what part of the S curve do you think we’re in? Are we still waiting for adopters, Anyway, it’s been fun. Take care. When it hits $8,000 (fiat dollars) later this year I’ll buy you a beer.
Re S-Curve, we are still somewhere in the middle - very hard to say. BTC is probably going to a few hundred thousand to a million when all is said and done. It depends on how much adoption there is by central banks, hedge funds, etc. The market cap will need to be in the 10 trillion to 10's of trillions (for price stability when moving large amounts of funds.)
BTC could maybe hit $12K. I wouldn't be shocked by $8k. No worries about a beer as I'm not much into BTC. I used a lot of my past profits to buy gold/silver and alts.
I pointed out that your opinion is wrong. Your argument is based on feelings and opinion and has nothing to do with a monetary system. For clarity's sake, BTC (not crypto) is a hedge against inflation, and not (yet) really a currency.
iFinex? You mean FTX? You are proving my point as it is a centrally controlled exchange, not a decentralized solution.
If we can go back to private wallets? Most control their own wallets and there are decentralized exchanges (e.g. Uniswap, Sushiswap, etc.) that are LARGE. You rarely need a centralized exchange except to buy/sell those crypto's not available on centralized exchanges. And even cashing out is moving to stable coins like USDC (which VISA is moving towards adopting.) Again, you show your lack of knowledge.
There is no value of a coin without saying the supply. $4 X (supply) = market cap. BTC has only around 18 million coins right now. BTC needs to be worth a few trillion in market cap to function as intended. You really don't understand basic economics.
I rest my case, you don't know what you are talking about but thanks for proving that to anyone with a little bit of knowledge of crypto that happened to read this thread.
So yeah, you don't understand. 😂
Call it an opinion all you want. The price of btc over the last 18 months says otherwise.
IFinex, the scammers that operated Bitfinex and the laughable Tether. Yeah different from FTX, dummy.
The value of all the coins are manipulated by the centralized exchanges, plain and simple. Every time one is exposed as having no money to back their users, the price of btc drops. It’s like watching dominos in slow motion. Who’s next? How much will your precious investment (oh sorry, currency) be worth when Gemini, Kraken, Binance are exposed?
You go back to price but don't understand it. This is called an S Curve and is typical in discovery. Even happens in the stock market.
Centralized entities will constantly try to take crypto down. Remember I said it isn't an answer but a step in the write direction.
I don't care if Gemini, Kraken, Binance go under. To a point, we need that for crypto and true decentralization to happen. True to it's roots.
You had an expert on crypto right in front of you but I didn't show you my cards early on. Instead of asking intelligent questions, you tell. And then BS some more.
Take care
Exactly what part of the S curve do you think we’re in? Are we still waiting for adopters, Anyway, it’s been fun. Take care. When it hits $8,000 (fiat dollars) later this year I’ll buy you a beer.
Re S-Curve, we are still somewhere in the middle - very hard to say. BTC is probably going to a few hundred thousand to a million when all is said and done. It depends on how much adoption there is by central banks, hedge funds, etc. The market cap will need to be in the 10 trillion to 10's of trillions (for price stability when moving large amounts of funds.)
BTC could maybe hit $12K. I wouldn't be shocked by $8k. No worries about a beer as I'm not much into BTC. I used a lot of my past profits to buy gold/silver and alts.
Good video to learn more here: What is crypto:https://www.youtube.com/watch?v=VYWc9dFqROI&list=WL&index=4&t=4s
What is ETH: https://www.youtube.com/watch?v=9UtxwQ50c2Y