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RE: The Bear Case for Bitcoin

in #bitcoin7 years ago

Things that are considered obsolete have a way of hanging around, depending on how mainstream they've become and how well known they are. The thing about bitcoin is the built in scarcity model, despite being slow and the blockchain technology obviously being useful for an amazing amount of things.

So maybe bitcoin has peaked, but when that may mean it's no longer the top cryptocurrency, who knows. When it's mining is halved again, you might see a surge in price over whatever it is by then, unless there is a concerted backlash against all the energy being wasted to mine them.

I'd love to see something like STEEM win out because of its usability, or even DGX, because it's backed by something. For some reason, though, people like to put more value in things that they can't readily have, rather than placing more value in things that make life better.

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Yeah, I have no idea what the future is, but I don't see Bitcoin dying hard...maybe just petering on and slowly winding down, maybe it goes for years. I wish the best for it but am more interested in other projects.

And yes, things sometimes just stay due to inertia!