Bitcoin's value has risen to over $23,000 - a $3,000 increase in 24 hours
- Thread starter WYP
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Dark NighT
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I will never understand why people value this as much as they do, yeah it's been used as a payment method but it will never be reconized as a true currency for the world economy.
Think the thing it would most likely replace, and that it's primarily used as an alternative for now, is Gold (IE a commodity useful as a secure store of wealth), the "secureness" often being of much more value in places with strong internet infrastructure but relatively unstable central governments such as much of Africa, or in countries where govts. restrict the transfer of valuable commodities and such. In this sense bitcoins market valuation isn't crazy high, with a total market cap of $350Bn vs Gold for examples $9Tn
Bitcoin is lacking quite a lot of things for it to become a real practical currency, though it has likely laid the foundations tech wise for many future real practical (In many cases national) currencies. It's only a matter of time until more govts. start considering the lack of ability to counterfeit money worth the cost of transitioning your nation to a blockchain based fiat
Bitcoin is lacking quite a lot of things for it to become a real practical currency, though it has likely laid the foundations tech wise for many future real practical (In many cases national) currencies. It's only a matter of time until more govts. start considering the lack of ability to counterfeit money worth the cost of transitioning your nation to a blockchain based fiat
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