Re: Is Bakkt the Future of Bitcoin and cryptoworld?

Quote from: odolvlobo on October 03, 2018, 05:58:32 AM

Quote from: flying_bit on October 03, 2018, 12:24:18 AM

Bakkt seems ready to take off with a positive acceptance from Big companies. Bakkt aim to bring institutional money to crypto world.
Will this be the gateway to bitcoin adoption and possible Bitcoin ETF approval or this will only make bitcoin more scarier for regular joe to invest and hard to adopt?

The problem here is the thinking that Bitcoin is only about investing.

It doesn't matter who buys bitcoins, or how much they buy, or how many exchanges there are, or how many ETFs there are. If people can't come up with a good use for Bitcoin, its value will eventually go to 0.

thinking that Bitcoin is only about investing.
it does not matter what people think about bitcoin, what matters is what we gear it's development towards. You could say that 'what people think' can sorta direct the development of bitcoin core, but that development follows a feature-based line of thought. We got our soft-fork for segregated witness due to scaling concerns, for example.
It doesn't matter who buys bitcoins
true, it doesn't matter
or how much they buy
this matters since the network is self scaling in regards to volume of use, mining and number of full nodes. the more use the network sees, the more it changes itself
or how many exchanges there are
this does matter, since bitcoin's nonce difficulty is gigantic to the point that no one can actually mine a full block alone anymore like they used to be able to. So exchanges are in a way, a layer of distribution for bitcoins, so you can say the more options we have, the less risk of centralization we will have.
or how many ETFs there are
this only matters because it may change how money and volume will behave in exchanges, hard to predict exactly how
If people can't come up with a good use for Bitcoin, its value will eventually go to 0.
bitcoin will never go to 0, it is mathematically unlikely, seeing how volume has just increased from 2009 to now. And bitcoin has great uses. At the moment, transfer fees are salty, but there was a time where sending BTC as a form of international money transfer was the cheapest method available. You achieve the same results by exchanging your BTC for altcoins who specialize in these types of transfers and are centered around low fees. BTC creates liquidity for these coins.
BTC also has digital scarcity, which functions as a store of value. BTC has tremendous security, never having being hacked once (exchanges are not bitcoin, "not your keys, not your bitcoin")
I could go on and list many other 'uses' that I do not remember from the top of my head. Your post truly puzzled me, as it said many things I consider untrue in my opinion