Post
Topic
Board Bitcoin Discussion
Re: Crypto ‘Won't Turn Out to Be a Complete Delusion'
by
deisik
on 26/03/2019, 17:01:43 UTC
There is way too much infrastructure for bitcoin to fail. It is becomingna national currency in venezuela and when other economies fail they too will switch to bitcoin as their saviour

That doesn't mean a shit

Technically, this is a logical fallacy and a false assumption like "too big to fail". But even the biggest ones fail sometimes like Lehman Brothers (with definitely more to follow). I remember people claiming that mining costs would be propping up Bitcoin's price somehow. It never happened and in real life miners started to sell out their mining rigs for pennies once mining stopped being profitable

Also, keep in mind there is no government to bail out Bitcoin if things turn from bad to worse for it (just a phrase as Bitcoin is doing perfectly fine now if you ask me). In fact, all governments will be rubbing their hands self-satisfactorily if Bitcoin bites the dust at the end of the day