Post
Topic
Board Speculation
Topic OP
BTC Value
by
grendel25
on 23/09/2014, 01:28:15 UTC
My opinion is that BTC value may be degraded as other crypto currencies take root:

1)  A core belief in BTC is the value of cost effective financial mechanisms but other currencies can do this just as well.  Therefore, what may be 'special' about BTC may also be easily duplicated in other similar mechanisms and for just as much if not a better value.

2) The hay-day of independent mining may soon end as the process is industrialized.  Think about it, if everyone could print money, they would.  It's not just that it's illegal, it's also that it's not cost effective for people to manage.  Similar parallels can be drawn to the current scenario.

I'm all for BTC reversing it's current negative trend.  I would even like it if mining were profitable to the layperson.  But the above two thoughts occurred to me and I can see several good reasons for the future of the layperson in crypto currency to be grim.

Now, before you scream, "FUD", let me clarify that I think crypto currency has already proven to have a bright future.  I just think the bonanza days are about done.  Of course, I'm not selling my video cards just yet but I don't hold much hope for them being useful again.  And my two thoughts above probably aren't all that original... just seemed like it is relevant to what is actually happening in the crypto economy.