Bitcoin has an inbuilt mechanism to make it exponentially harder to mine. That means the labor value to mine it will keep growing and that sets an ever increasing minimum price floor on the currency.
Is this a sensible way of making a currency? Hell no. Does this mean that bitcoin invesment as an asset will continue to endure for more years? Yes.
The only thing that could feasibly crash the bitcoin market is if most bitcoin users and miners move to a more sensible crypto that is designed for transactions and not investment.
damn it peaked at 125k last time.
Every time this happens I hope it’s the final one, and so far every time I’ve been disappointed.
Bitcoin has an inbuilt mechanism to make it exponentially harder to mine. That means the labor value to mine it will keep growing and that sets an ever increasing minimum price floor on the currency.
Is this a sensible way of making a currency? Hell no. Does this mean that bitcoin invesment as an asset will continue to endure for more years? Yes.
The only thing that could feasibly crash the bitcoin market is if most bitcoin users and miners move to a more sensible crypto that is designed for transactions and not investment.
The crypto cult is still going hard, i am sure its gonna bounceback. Some people just hopelessly throw money at it lol
same
I think you might wanna get ready for more disappointment, say maybe two or three years from now
Quantum computing will eventually make specifically Bitcoin worthless. Eth at least gets upgrades, so it might survive.
Some people is saying that Quantum compunting is a hype too. But I am no expert.