Market cap doesn't mean anything AFAIK, since the space is over saturated with back and forth bot trading for 0.02% profits at a time. Soon enough that liquidity will jump ship because there is nothing innovative and lightning network was a step in the wrong direction. The only reason that it's still around is because the majority are ignorant to it's deficiency, especially compared to almost every single crypto out there. The reason it's "a store of value" (not taking into account the last 14 months) is because the sentiment that it's valuable hasn't been eroded all the way yet. If and when it's value stars dropping (one or two wallets selling could trigger it) and the mining difficulty is adjusted so that running the incredibly inefficient network is still profitable it will quickly escalate to a race of minting the last few coins, until we will see bitcoin for <10$ and possibly to completely die probably through brute force 51% attacks on the network doublespending or simply by being an obscure relic, much like 90% of projects that didn't survive the dotcom bubble. At that point, as is already happening, the monopoly (>75%) on on-boarding of fiat to crypto that it held for a decade will be a thing of the past and the liquidity will move into much more competitive and healthier projects, that will be recognized despite the PTB and Media's frantic fight to denounce crypto.
You are viewing a single comment's thread from:
BTC will be $100k before its $10 we can make a steem wager if you'd like.