A rising tide lifts all the boats. So, anything that brings Bitcoin up is also good for Litecoin, Digibyte and many others alike. The rich are not eyeing Bitcoin. They are investing in BTC in expectation of further gain. There are also wild imaginations doing the rounds about the kind of profits that can be made.
Some of them honestly believe that BTC is a money laundering device. Warrant Buffet called it mirage and Dimon called it fraud. It is true that cryptocurrency is wild and at times seems to be very much out of control.
Now, thoughts are on about minimal standards of regulation for crypto of every kind. Discussions about cryptocurrency is becoming an everyday thing. The idea of Bitcoin and other cryptocurrencies is never out of the discussion among anyone who is trying to strategize their investment portfolio.
Millennials undeniably are pro Bitcoin and many of them are beginning to consider cryptocurrency instead of gold. All the happiness about the price of BTC going up is for those who were early investors. The rest of them who have no real clue about the past are prospecting the probably selling price based on their buying price.
In this regard, Sydney Ifergan, the crypto expert tweeted: “Dan Held recently stated that Bitcoin (BTC) is not a risky asset anymore and that fiat is! Wonder if we are already there? Not exactly.”
It is work checking in to Dan Held’s work on What prices in the market represent – How money is a measuring stick – Central banks have a unsolvable data problem – How Bitcoin created the perfect monetary policy.
Dan Held also raised a concern stating how much fake or missing gold we might find when we begin to audit the government gold reserves. Meanwhile someone tried to explain that it is easy to verify $1.6 Billion in Bitcoin using a QR scan code than to verify and audit $1.6 Billion in Gold.
Bitcoin (BTC) Wild and Unpredictable
Someone trying to defend the Bitcoin concept stated, Bitcoin was, is and will remain a large, old mantelpiece mirror. What it reflects (the rest of human experience in the living room over time) is wacky, wild and unpredictable. Blaming the mirror for what happens before it is – well – just plain stupid.
As someone said to make something good we need to do it, redo it and redo it until it becomes good. This is happening with BTC. it is getting marketed, re-marketed and re-marketed through adoption.