Bitcoin Dead?

Given all of the hype surrounding Bitcoin recently I thought this was an interesting read: 

 

https://marker.medium.com/the-bitcoin-dream-is-de…

 

I'm leaning toward agreeing with this one: wasn't the whole point of Bitcoin to make a currency that wasn't "worthless" like fiat money? I would rather have controlled inflation in my currency but still have it still be a viable means of exchange and store of value as opposed to going to the grocery store and finding out that I need 25% more money to buy stuff compared to three days ago. Thoughts?

 

Comments (2)

 
  • Business School in IB - Ind
Jan 13, 2021 - 11:06pm

It probably won't be a currency in our lifetime. It starts out as a collectors item, then store of value, and finally a medium of exchange. We are between stages 1 and 2.

This article is short sighted. Soon everyone will have Bitcoin exposure. Pensions, endowments, and even corporate balance sheets will have it. After that it's market cap will pass gold (around 400k - $1mil per coin). Then countries will tie their currency to it. Then it will become the global reserve currency. Then people will use it as a medium of exchange. This might take 30 years or 200, but either way it's the best asset of our lives and an easy trade, even at 40k.

Also more money is traded through Bitcoin payment rails than Venmo, cash app or Apple Pay.

Bitcoin is inevitable. The longer you wait, the more articles you are going to have to read like that to not feel the FOMO.

 
Jan 13, 2021 - 11:40pm

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

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