is crypto a bubble please read my insights and reply
fenance boys, is crypto a bubble i think it is hear me out and if u think its not please explain why, 1: valuations are crazy a lot of people are talking about cardano ADA or other cheap coins to be the next big thing however take ADA it has a circulating supply of 31 billion if it reaches 100$ as these “experts” are saying the market cap would be 3.1 trillion thats a little bit less than amazon,FB and google market caps combined and these are monopolies which are used by consumers every single day. 2: take ethereum for example the coin is the gas for the platform when u use the platform more the price of the coin will increase because its the platforms fuel to function lets say the coin reaches 40k as those “experts” are saying isnt it expensive for big institutions to use it? 3: cant big corporations like JP morgan, Visa etc.. do there own platforms and use blockchain for multiple stuff without being dependent on a platform like ethereum and since these companies have billions in cash can these coins really compete and smaller corporations have a tendency to trust these bigger companies because of their track record take like netflix, they use amazon for cloud storage etc.. What do u think guys?
I mean in a sense it probably is. Just like the dot com boom was a bubble. But if you’ll notice, while a lot of those new hot companies failed, the ones that survived are behemoths today. I think it is likely crypto and its applications (NFTs etc.) will end up being very similar.
saw you’re in commercial banking can u help me regarding the technicals ik corporate and commercial are similar do you recommend a course or something to brush up my knowledge ? thanks
There are two fundamental problems that occur with bitcoin right now that I see that will prevent it from actually going mainstream.
1. Every time you use it the chain gets slower. Thus it is eventually going to become burdensome to use.
2. Until items are pegged in a bitcoin price, people won't use it because of the price fluctuations. I think of buying groceries as an example. If you walk into a grocery store and your currency drops 5% and you can't buy groccies then then you are fucked. which means that either items need to be priced in terms of bitcoin. Not going to happen due to the volatility or Bitcoin needs to become more stable which I dont see happening for a long time.
So Do I think it is a bubble, Maybe, Will it ever be fully adopted - This is where I become bearish.
The thing about Bitcoin is that it's not practical as a currency - instead it's emerged as an alternative asset as a store of value, like gold is. The Bitcoin network can only handle 7 transactions per second, so it's not that great for payments. But, with Layer 2 solutions such as the Lightning Network, this issue can be resolved and you can pay for a cup of coffee in Bitcoin. I think in next five to ten years, Bitcoin will exist alongside a digital dollar coin in your Apple Wallet and you will be able to seamlessly transfer between currencies, and this will happen faster than you think.
Not a bubble. I'm 70% BTC, 20% ETH, 10% DOT. I've made a shit ton of money and the 2021 bull market is just starting to heat up. I've had some Bitcoin for five years and if you don't listen to the FUD and the noise and focus on the growing institutional adoption of Bitcoin and cryptocurrency's rapid ascent as an emerging asset class, it becomes fairly obvious that Bitcoin will flip gold ($11T market cap) within next five years. Buy Bitcoin and see some sick gains brah
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