Quote from: hoaryal1 on April 16, 2020, 07:08:42 PM

Personally I think Bitcoin is acting much in accordance to stock markets while gold goes the opposite direction. I know Bitcoin tries not to act the same way as stock markets, but gold has an advantage: it has no competition. All this while there are at least 100 different cryptocurrencies. Until the people go for investing for a long time and not short-time profit, I honestly think Bitcoin has no chance of acting differently from the stock market.

It's a free world therefore we're all free to air our views and thoughts on any subject of discussion most especially on a speculative one like the cryptocurrency industry. Bitcoin also has no competition as the so called competitors will see today aren't worthy of been placed in the same sentence with bitcoin. It's just a matter of time before they die off. I'm quite sure gold most have had the "so called competitors" in its early years of existence but with time it separated itself from them by outperforming them all.

That's exactly the fate of bitcoin too, as with time it'll distance itself from every other "so called competitors" out there. Bitcoin detect the cryptocurrency industry price movement as other cryptocurrency trends to follow it footsteps. When you speak about it's mode of operations, I don't think we'll even see any other cryptocurrency as independent as bitcoin. The likes of the competitors are just centralized piece of junks disguise as decentralized project but been head by dictators as CEOs. Just give bitcoin time, Gold was given time before it's what it's today, give bitcoin time too. If it can achieve all it has in just a matter of 10years without any government backing like Gold had, imagine what it'll achieve in the next couple of decade.