Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
There are still like less than 1% of those who have some of BTC within world population, that's just not enough after 5+ years from developement.
Adoption is not needed, Bitcoin is an asset primarily for the (very) wealthy.Blitz,
could not agree more.
Most of the movements in bitcoin prices stem from speculation and investment into it. it's very similar to Gold. Adoption is not so much needed. Meaning, not 100% of the worlds population have to have golden bracelets or rings or earrings. It's enough that 1% hoard it or sell it = like central banks and funds and hedge funds
agreed,
there are many aspects to bitcoin, which all come in to play in price. Mass adoption might not be necessary but it sure as hell wouldn't hurt, mass adoption ( bitcoin becomes global reserve currency ) would necessarily mean its price in relation to USD is meaningless because it will have made the USD itself meaningless, and so we'll have to price bitcoin is terms of products and servers it can buy ( purchasing power ) and forget USD. we are so far away from this scenario becoming reality, its hard to imagine, but that doesn't mean it wont happen, all it means is we are very early in this. I believe it will eventually happen, digital money.... wtf did you think was going to happen!?
