Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
AlexGR
on 13/04/2015, 19:37:36 UTC
I honestly think bitcoin is going to be done within 2-3 years.
These price slumps just aren't sustainable.
Who is going to be interested in an asset that's constantly losing value.

I'm a HODLER but I fear for bitcoin.

You think that most national currencies, outside of EUR, GBP, USD, CHF etc, are "sustainable"? Some countries experience severe currency devaluation like 10-20-30% or more per year. Gold, silver, bitcoins, even mechanic or electronic equipment can be a "parachute" to inflation and devaluation.

The price also doesn't matter in transactions that have to do with individuals outside the banking system. For example if a kid wants to sell his game account or a game item to an online friend of him, he can use bitcoin to the equivalent price-target. Say the kid asks 1000$ for the game account in bitcoins... whether it's 1 BTC = 1000$, or 4 BTC = 1000$ (BTC = 250$), it doesn't matter.

Then the kid can spend this 1000$ (in Bitcoins) through the online retailers, or make it fiat or gold/silver through retailers that accept BTC if he is fearful that the price might slide. But the transaction will be at the appropriate value.