Bitcoin News
By James Thorp
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The Bitcoin protocol is about mining bitcoin, it has nothing do to with pricing bitcoin. There is nothing in the protocol about establishing a market price for bitcoin.
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BTC is in its very early days, and it is an artificial currency, but whether it is creating new money, whether it is sustainable, whether it would survive – there are many…
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The world is a global economy. However, we don't have a unifying currency. Bitcoin crashed many times and it had the resistance to recover.
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There are several circles, where there are a large group of people who will take Bitcoin as a legal tender. They will even accept debt settlements very happily.
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At the end of the day, what's going to make bitcoin successful is more people making more interesting things, just like the beginning of the Internet.
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Think of examples of free market transactions between peaceful people using Bitcoin and the Internet. It is a wonderful thing and it's going to make the world a better place.
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If Bitcoin is a better gold or seen as a type of gold-like asset, then it could be in the trillions on a market cap.
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Other state, Silicon Valley is a great place for Bitcoin, since everyone understands computers, and there are lots of libertarians running around.
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Need to accept that bitcoin solved the double-spend problem. The key problem was payment confirmation without central clearing.
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There came other technologies which made it possible to make use of the value of Bitcoin with Layer 1 and other kinds of solutions.
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So many are left wondering: 'Why are you investing in bitcoin and VR? Those markets don’t exist.' You mean they do not exist - yet.
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The next phase of the journey is to move from speculation to actual use cases - people getting into Bitcoin because they want to use it.
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