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by clintonwoo
1456 days ago
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Sure but what if the US govt decided to launch a 51% attack on btc anyway? I don't argue that blockchain tech will keep improving. I just say if it's going to be a currency of the future why do we have to spend money on it now? Won't we be able to create parallel blockchains to increase token supply? It's not an intrinsically valued asset, like buying a stock (which some have returned more money than speculative bitcoin purchasing). Why should the bitcoin believers tell everybody to buy it if there's nobody accepting it for payments? |
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Re: parallel Blockchain- there are thousands of Bitcoin copycats since 2011. They're either dead or dying. See the top ten list on coinmarketcap over time. Point is that value will accumulate on what everybody agrees on and there's no way somebody's CrapCoin where they own 60% of tokens and dump it on the market will gain traction with it's inherent risks (security, centralization, lack of differentiation etc).
Bitcoiners themselves don't spend using Bitcoin yet but this change is happening as more and more people believe in it as something that holds value and isn't going to 0. It'll take time and I have patience.