So what was that about Bitcoin?
(www.marketwatch.com)
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There has been a lot of USE of Bitcoin.
Unfortunately Bitcoin is not destined to be a long term holder of VALUE.
It was always designed as a quick universal exchange, not digital currency. There is nothing backing Bitcoin except it's users and that bubble will burst like every single one before.
What backs bitcoin itself is the processing power and electricity it requires to run the network.
As long as the coin is a currency and is being used then there’s no “bubble” to be burst.
that's nonsense, the power is dissipated and wasted as heat, you can't turn in bitcoin for more power, it is not a reversible process, which is required for something to not be a fiat currency. it's a fiat currency, it's not backed by anything but hopes and dreams
You do realize that many of the reasons gold was originally valuable… are the same reasons bitcoin is valuable.
A lot of what isn't mentioned is that people think of it as valuable, so then it is.
I don't think BTC will crash ever. It is too mainstream, people believe it to be an asset now. The whole thing about it not being valuable or having any use is gone.
Scarcity and transparent is one of the best arguments. You cannot create more BTC out of thin air. No FED secretly creating more.