As an economist, I worry about a lot of issues related to economies in this world.
Bitcoin is surely a revolution, but I worry that it is highly unfair for the older generations and the people who join Bitcoin in later periods.
Most people in the world do not hold Bitcoin or any other cryptocurrency. If they started buying it, prices would soar and there would be a huge purchasing power transfer from those who got later in to those who got in earlier. For these people, staying in Fiat currency will be the best option.
Also, there is the issue of scalability and of the timeframe of existance of Bitcoin.
Isn't it better to jump try an ICO? And following this reasoning why invest in an ICO now when something better may come later?
I think many of the discussions about cryptocurrencies leave out those of our society who have less access to information and new technologies.
What do you think?
Thank you.
This is probably one of the biggest issues of bitcoin these days, and that is scaling, in the past every time bitcoin got up in price it gave an opportunity for people to join in and get profit if they want to at a point where buying bitcoin to the average person became a really hard thing to do because of the price, so people started looking for other cheaper alternative which they found in ICOs, not only that but last between the tow last months the bitcoin network was a mess transaction were stuck for days miner fees reaching ridiculous prices, all of that because of the high flow of traffic and people that got into it, but hopefully with the lightning network things will get much better as it will solve this whole process by letting bitcoin be implemented in the instant micro transaction payment.