Re: Will bitcoin have trouble in evolving and keeping up?

Quote from: newBIeT on April 12, 2018, 04:01:32 AM

I have read articles regarding bitcoin, blockchain technology, cryptocurrencies and i have been amazed of what bitcoin have achieve for the past couple of years and its popularity that extended globally. It have reached $19,000 at the last quarter of 2017 (http://www.latimes.com/business/la-fi-bitcoin-20171207-story.html) and now swinging at $7,000 below. Yet, considering that the value of bitcoin is highly volatile its normal that its value fluctuates.

Just recently, Bitcoin have proved wrong the former CEO of Mt. Gox (Mark Karpeles) one of the largest cryptocurrency exchange before, after he stated years ago that "Bitcoin may have trouble in evolving and keeping up". With respect to what Bitcoin has achieve nowadays behind negative articles, negative perceptions it actually proves that Bitcoin is really keeping up and is evolving (and will continue to evolve). https://www.investopedia.com/news/former-mt-gox-ceo-questions-bitcoins-evolution/

Let me know your perceptions avid bitcoiners Cheesy

Your ideas will be highly appreciated.

If he means by keeping up with all the new tech in crypto, then bitcoin doesn't even need to.

Bitcoin's value isn't even determined by how technologically advanced it is. If that's the case then other cryptos would have completely taken over by now, but that's not the case. The thing is, bitcoin does not overpromise about its capabilities. All it is is a currency for conducting payments over the internet without any intermediaries. Even if the software doesn't update at all, I doubt the prices will be affected much in even the next decade. Of course, that's not saying bitcoin will not take steps to evolve. It will continue to do so.

Bitcoin's value is based on its adoption and trust, and it's a lot less speculative than other crypto because people actually use it for commerce.