Re: | STRATIS | The first blockchain developed for businesses |Full POS
It would seem not many people seem to understand the genius behind Bitcoins economics, and seem to think its mining and slow block rewards are a problem. Its the very thing that keeps Bitcoin going up in value.
So, Bitcoin is just a huge Ponzi scheme? What should be driving these prices is USAGE. Bitcoin experiences wild swings in prices, so it's still NOT being used much in the real world. I'm no economist, but the only way I see for Bitcoin to become viable is if it soars in value - to over $1 million (might be a bit too high, but it's the point that's important) - in order to kill speculation - and, at the same time, becomes as useful as real cash, so people "bank" their Bitcoins instead of selling them. I could be wrong cos I'm no expert on these matters - just wish there was more analysis and less obsessing over prices.
Don't forget to report my post, kiddies - DELETING POSTS WON'T SEND PRICES SKYROCKETING, THOUGH.
HODL! TO THE MOON! WE'LL ALL BE DRIVING LAMBOS SOON. Just threw that one in for the kiddies.
People are obsessed with adoption. Its not even necessary. All that is necessary is the arms race within the mining industry. Price follows hash rate and seen as though the hash rate just reached an all time high yesterday guess what is going to follow? Gold is money because it is backed by energy. It takes time and investment to get it out the ground. Satoshi understood the biggest crime that ever took place was when the US dropped the gold standard because it opened the door to fraud, debt, lies and war. A Gold standard means responsibility and now Bitcoin will eventually bring things back around EVENTUALLY. Bitcoin is an energy backed currency not a ponzi scheme, something the world has not seen since they dropped the gold standard. Gold has very little usage, its collected and hoarded but yet people pay 1500 dollars an ounce for it currently.