A very very good explanation as to why BTC will crash even though blockchain is a good tehnology.
If you do not want to read the full link below, here is the key part of the comparison:
" imagine that someone had found a cure for cancer and posted the step-by-step instructions on how to make it on-line, freely available for anyone to use.
Now imagine that the same person also created a product called Cancer-Pill using their own instructions, trade marked it, and started selling it to the highest bidders.
I think we can all agree a cure for cancer is immensely valuable to society (blockchain may or may not be, we still have to see), however, how much is a Cancer-Pill worth?"
Clearly Bitcoin is like cancer-pill - and we have already seen thousands of new coins (cancer-pills) appear. Eventually their price will be almost zero.
The full explanation can be found here: http://www.mrmoneymustache.com/2018/01/02/why-bitcoin-is-stupid/
The problem with that reasoning is in the statement "clearly bitcoin is like cancer-pill". Firstly, that is not clear at all. It is just an analogy. And secondly, the analogy is to the thought-of (not real world) example ! So in my view it is all very far fetched to say the least.If you do not want to read the full link below, here is the key part of the comparison:
" imagine that someone had found a cure for cancer and posted the step-by-step instructions on how to make it on-line, freely available for anyone to use.
Now imagine that the same person also created a product called Cancer-Pill using their own instructions, trade marked it, and started selling it to the highest bidders.
I think we can all agree a cure for cancer is immensely valuable to society (blockchain may or may not be, we still have to see), however, how much is a Cancer-Pill worth?"
Clearly Bitcoin is like cancer-pill - and we have already seen thousands of new coins (cancer-pills) appear. Eventually their price will be almost zero.
The full explanation can be found here: http://www.mrmoneymustache.com/2018/01/02/why-bitcoin-is-stupid/
Your reasoning serves only as an argument towards your claims. It is neither very strong, nor conlusive. It is merely an argument in a debate and a weak one to that
