what is bitcoin? A bubble or a Future Dominating biggest currency?
Bitcoin?
The first Digital-currency based on Blockchain!!!
we don't even know who has acyually started with it- but we know that it's decentralised, then what does it mean by a bubble?
The bubble is something which explodes making a lot of noise and creating a lot of disturbance. Bubble is something which is been quite well-maintained trying it to prove as a Genuine,
then if it's really a bubble- who is behind it?
there are a lot many questions which need to be answered but before coming to the answers which need to be addressed, its important that we know the real truth behind it and the various unanswered truths. the unaddressed or unanswered truths are the reasons which the people speculate it to cause a possible the biggest bubble of all times.
As per me, I feel it to be the big fish behind this and nothing more.
what are these big fishes?
These big fishes are the big businessmen or the programmers who know quite well about how to get the best of something has no value in the actual market!
It makes a sense- when we come out of the virtual mindset and just think about what would be the value of bitcoin when there would be nobody to buy it even for a penny- have you ever thought about it? have you ever thought that even if the government wouldn't purchase it from you?
what would you do?
do you think somebody would purchase?
Never! it would never be possible.
To understand this, you need to know about the block chain and whats really happening inside it when it comes to block chain and the transactions which take place- how are they really taking place!
i feel it to be just a place of three years when the miners would just stop their production and just replace themselves in such a good alternative options where they really could do something in real!
so, whats all about block chain?
Block chain in simple terms-
non-hack-able
If its the concept then why is it a bubble?
The reason is the increase in decrease of rewards to the miners- its true that the miners receive 12.5 BTC as reward for every block but after a coupe of years it would just reduce to half and so on, this would turn out to be impossible for the miners to mine causing them to shut down and making the bitcoin just to be a simple and the largest graveyard!
The second reason would be the competition between users as the bitcoin transactions are seen to be reducing their speed of transactions(in simple words), the people using bitcoin would just start paying more to get their transactions on the top of lists and that this isn't acceptable by the users- did you know? the bitcoin transaction was meant to be free of cost!
But the miners shall be getting higher pays for each transaction making it an unacceptable for the users- causing it later for the users to just drop the option of Bitcoin!
Then what would be really making it a Super-Hero even though with such disadvantages?
Its just because people still believe in it and that most of the strongholds in Bitcoin are just finding alternatives to make people believe in it.
As per me, nothing is unpredictable- what do you think?