My wife was in a Chase bank today and overheard a chase bank rep stating to a customer, that the bitcoin is NOT going to last much longer.
Especially because the bitcoin continuing to grow in value. I guess that as a result of the increase and nothing backing and/or supporting it.
That as a result it can no longer continue to exist, if I am understanding this analysis...If somehow there could be a discontinuance of the bitcoin,
how does this effect the other forms of cryptocurrencies???
First of all you cannot let your financial future to be determined by something someone you know heard when other people were having a conversation, we must remember that just because someone has some credentials which say they know what they are talking about this is not necessarily true.
We must always judge what it is being said based on rational arguments and not on the authority or credentials behind the person, bitcoin will keep existing because what gives bitcoin value is not a bunch of gold stored on the middle of nowhere, which by the way fiat does not work like that either, but the fact that is a network which is not controlled by the governments and it is money that cannot be printed in a whim, unlike fiat, so even if we do not have the credentials those people have, we are right because the sound arguments are on our side, so stop caring about what people say about bitcoin if it is not grounded on the reality of the situation.