Why bitcoin boom will end in tears
Classic monetary theory holds that they have three characteristics: they are a medium of exchange, a denominator of value and a store of wealth.
bitcoin does none of these functions well. It is not much use as a medium of exchange because it is not even now widely accepted. It is not a denominator of value at all, because its own value has whizzed about so much. And it is not a store of value because it has become too valuable in itself.
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Classic FUD article by someone who doesn't understand Bitcoin.
"Not a store of value because it has too much value in of itself."
What kind of logic is that?
"It is not much use as a medium of exchange because it is not even now widely accepted"
We are barely into the early adoption phase of Bitcoin, and it is already being used globally. More so is some places than others. Mainstream recognition of Bitcoin is just beginning.
The volatility is there of course because the market is still very small and susceptible to manipulation by whales. Once the market reaches into the trillion dollar range stability will manifest.
For future viewers: price of bitcoin at the moment of posting is 8150.00USD
Haha always good to have someone like you around :D
Thank you
We are already in Alpha 0.3 and things are looking great
i have a perfect picture for your post @askquestion.
Sometimes the market just decides that something is valuable
Of course but bitcoin stayable in September 2018.
hi @askquestion , It's great post bitcoin! I enjoyed your content. Keep up the good work!
It's always nice to see good content here on Steemit! Cheers :)
Thank you. I am happy to see you on my post.
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