Post
Topic
Board Bitcoin Discussion
Re: What if BTC never reaches all time high?
by
Abiky
on 10/04/2020, 21:31:44 UTC
Bitcoin will function exactly how it was designed, regardless of its price. People should stop speculating and learn more about why Bitcoin was designed in the first place.

Exactly. I don't get why people are complaining about Bitcoin's price in terms of Fiat, since it was intended to be an alternative to the current monetary system? Back in Bitcoin's early days, there were no exchanges that would trade Bitcoin to Fiat or vice versa. Everything was made directly in Bitcoin from one person to another. The current sentiment of everyday people, shows that they still don't understand how crypto/Blockchain tech properly works. As long as people continue to speculate about Bitcoin's prices in terms of Fiat, the cryptocurrency won't be able to reach mass adoption within the mainstream world.

Things aside, true believers of the cryptocurrency would use it directly for mainstream transactions regardless of its price. As I always say, 1 Bitcoin will always be equal to 1 Bitcoin. There are many jobs out there which pay you directly on Bitcoin instead of Fiat. The same way, there are businesses and merchants accepting Bitcoin directly as payment method. The more people continue to use Bitcoin independently from Fiat, the better it'll be for its adoption in the mainstream world. The crypto economy will benefit more if people use it directly as a unit of account, instead of relying on Fiat for everything.

Nonetheless, I wouldn't worry if Bitcoin's prices in terms of USD never reaches an All-time-high. The situation looks very unlikely to happen anytime soon since Bitcoin is scarce by design. Every 4 years, Bitcoin experiences a reduction in block reward that should increase its value over time. But knowing that the market is highly speculative, anything could happen in the future. Prices can either go up or down in an instant. At least, Bitcoin is functional as a decentralized cryptocurrency for daily payments. And that's what matters here. Just my thoughts Grin