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RE: Bitcoin's price is at a critical crossroad

in #bitcoin7 years ago (edited)

You are right, this moment is pivotal and I like you think things will turn to the upside but I think you skipped one inportant consideration.

BTC's price is no longer just about whether more mainstream adoption takes place but also about how the mainstream responds to the growing options in crypto investment. It used to be if you liked the idea of crypto you had to first buy BTC to enter the space but more and more this is not the case.

Coinbase lets you buy four different coins to start off with.

Many exchanges will trade ETH for other crypto straight up, making BTC less important. Binance, Changelly, and I'm sure others for example.

Also competition from BCH has got real bitcoin believers torn into two factions. Could BCH become the cornerstone crypto its not beyond possibility, albeit unlikely.

All this adds to the growing sense that if BTC is going to continue growing it needs to become the coin we all want it to be. That early adopters imagined years ago.

Scale, speed and fees will hold BTC back from its fullest potential if not meaningfully inproved.

But like I said I'm hopeful too. Let's see 2018 be a year of exciting and meaningful innovation, and subsequently wider and wider adoption for BTC, as well as all quality crypto.

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Great points. I would imagine that is a big part of it's dominance as well. Plus its technology is not very scale-able, especially compared to several others. Will be interesting to see what the market does from here.