Hello everyone.
There is much discussion around the price of bitcoins. Some seem to believe it could fly to a million, while some believe its just a big speculation bubble ready to burst.
My personal theory is that cryptocurrency is not the bubble, but rather the needle that will burst the fiat money bubble. Trough history we have always had an easy way to attribute value to things without it. Those who believe that fiat money is the only true way often attribute their opinion to the fact that fiat money is substainsable because of its centralized nature and its history of being used as a represantation of value.
The fact that bitcoin was created in the aftermath of the 2008 financial crises clearly shows it's intent. I believe Satoshi saw how a centralized regulated market can't be substainable thanks to the egotistical and evil sides we humans all posses.
Decentralized currencies will IMO be the future. I can't peg bitcoin to a certain price it will reach in the future as i usually don't speculate that way, but rather i just develop a bias on a subject and try to indentify the crowds bias as this is what acctualy IS the trend.
The trend for decentralized currencies is bullish overall, with some currencies being more exciting then others. Invest in the cryptocurrency you believe in and do your homework, lets bring the fiat-money world down once and for all!!
Please share your opinion on the subject, this is my first post and just wanted to share my thoughts, thank you =)
LazyTurtle
There is much discussion around the price of bitcoins. Some seem to believe it could fly to a million, while some believe its just a big speculation bubble ready to burst.
My personal theory is that cryptocurrency is not the bubble, but rather the needle that will burst the fiat money bubble. Trough history we have always had an easy way to attribute value to things without it. Those who believe that fiat money is the only true way often attribute their opinion to the fact that fiat money is substainsable because of its centralized nature and its history of being used as a represantation of value.
The fact that bitcoin was created in the aftermath of the 2008 financial crises clearly shows it's intent. I believe Satoshi saw how a centralized regulated market can't be substainable thanks to the egotistical and evil sides we humans all posses.
Decentralized currencies will IMO be the future. I can't peg bitcoin to a certain price it will reach in the future as i usually don't speculate that way, but rather i just develop a bias on a subject and try to indentify the crowds bias as this is what acctualy IS the trend.
The trend for decentralized currencies is bullish overall, with some currencies being more exciting then others. Invest in the cryptocurrency you believe in and do your homework, lets bring the fiat-money world down once and for all!!
Please share your opinion on the subject, this is my first post and just wanted to share my thoughts, thank you =)
LazyTurtle
No body know the future. But not so sure about bringing down over 2000 years old system. LOL. 2000 y/olds system vs 9 y/olds system
. Yes, the trend bullish for now, but in trading something fly too high will see below the bottom. Many theory prove this, Fibonacci, Ganns. Once this cryptocurrency reach it saturation stage, i can't image what will happen with all coins. Too expensive, in this realty world supply and demand most important thing for business. If no body can afford, then get ready to close your shop.I think cryptocurrency good for short term investment 1-3 years. Please do some research before making any decision to invest your money.
Well 2000 years of existence yes, but fiat money certainly have had its crashes during this time, so to speak of this 2000 year old time as a stable period is wrong. I dont really have the time to go into details, but since the beginning fiat money have lost their value and failed again and again. Just because we continue to use a failing system it does not mean that it makes it a good system.
- The denarius, the roman currency, one of the earliest fiat money ever in usage basically lost all value.
- When china first adopted paper money in the 11th century, where the chinese government emitted so large quanties the value just went away.
- France adopted paper money, locking them to coins at the time. They emitted to much paper money that was not backed up by coins, and so the money went useless. They acctually did this more then one time, the second time the paper money was called assignats. The end effect was the same, inflation to high rendering the fiat money useless as it has no true substansiable backup.
So if cryptocurrencies would take over and render fiat money value useless, it would certainly not be the first time fiat money loses its value, but perhaps the one with the biggest impact. Ill advise you to do some research on the 2000 years of "working fiat money".
I dont really see time as a factor here to be honest. Who cares if one system is 2000 years old, and one is 9 years old? you want to use the one thats best for you not the age of it. I mean torture is 2000 years old, but lie-detectors are only a few years old, the world adapts and old systems disaappear. Its the nature of the world
I think cryptocurrency is a really good long term investment, but time will tell. Thanks for your response m8. =)