Post
Topic
Board Speculation
Re: 2018 Trillion $ Bitcoin marketcap
by
thecodebear
on 06/12/2017, 21:44:11 UTC
Actually I believe Bitcoin no longer have any value at this point. Steam was one of the earliest merchants to adopt Bitcoin, Steam just announced that they will stop accepting Bitcoin due to extremely high fees. What we are seeing is reverse adoption trend going on. Merchants are increasingly refusing to accept Bitcoin, these merchants were once "Bitcoin friendly" and eager to adopt new payment tech. This is very bad for Bitcoin.

Some might argue Bitcoin have become a "store of wealth", but it can't be a store of wealth without having some kind of utility. Gold/Silver are store of wealth, but they also have huge industrial utility. What we are witnessing here is Bitcoin's utility has been basically destroyed.

I believe some technically superior cryptocurrency that has resolved the high fee issues, might replace Bitcoin in the future of cryptocurrency.

LN v1.0 was just tested on the bitcoin mainnet for the first time today. Once LN gets implemented high fees will be a thing of the past. Bitcoin's utility is not being destroyed, blockchains just need to upgrade to reach mass adoption, and Bitcoin is on its way!