I'm a fan of BTC and the other coins out there and they have the potential to change the economy, but right now it is not a practical form of money. You really can't conveniently buy anything online with it outside of the dark web. It's going to be interesting to watch and see how it plays out in the new year. When are we going to be rolling through a car wash in a self driving car paying through our cell phone? It wasn't meant to be an investment but it is being used that way; the price is ridiculous now and you still have to link a bank account to buy the coins and the miner fees are getting higher. So is this good for Bitcoin? It seems like what it was trying to get around of is still in its way. Do you think that the new traders are too late to the party or do you think this is just the beginning?
I do agree that the high price is limiting its use as a currency. Most of the world is treating it as if it is gold. A rare metal that we all agree looks nice. No idea what people think they will do with their bitcoins.
But you should not think of it as a regular currency. For instance what IBM is doing with cryptocurrency to make supply chain management more efficient is very promising. And bitcoins does actually have a practical use, even though most people seem to have forgotten about that.
We'll see what happens when people start to understand better what cryptocurrencies are for.
You are right. But do you think it will eventually become an alternative payment option that gets adopted by major companies? I know it's valuable to because of the ease of access and p2p payment, but I meant you can't really get online and spend your bitcoin where you want to.
People do tend to move to where the money can be found. So when more and more people are recognizing that it will help. Also convenience is important. We are all used to having Airmiles, which basically are tokens for flying. Why not have them as a cryptocurrency?