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RE: The Bitcoin Question: Buy now or cry later

in #bitcoin8 years ago

It's all about the ETF. Fiat just can't get into BTC in enough quantity through the channels currently available. It is very hard to move millions into BTC, the world needs to be able to pump hundreds of billions of fiat value into Bitcoin. Run to $10k starts when the ETF is announced, likely this fall.

As for mass adoption as a currency, meh, not so much. Average Joe has a credit card and doesn't understand or care that his central bank is stealing his hard earned purchasing power right out from under him. I don't know what it will take to make people realize that un-backed fiat is the biggest wealth transfer (theft) in human history, but it's not bitcoin.

I do think Steemit is going to boost crypto adoption in a big way. It's so easy, simple and convenient. People like easy and simple and convenient. That is where Bitcoin struggles - it's a pain in the ass to obtain, transact and secure. Steemit solved all of those problems. So Bitcoin = Gold and Steemit = everything else.