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RE: Bitcoin drops below $9,000 despite Huawei preinstalling crypto wallet

in #crypto7 years ago

Very good article, upvoted! Well, i think it is very difficult for any crypto to reach the numbers like 30k usd or 60k usd, it's a hope but not that sure to be realized. The more the price of btc goes up the less is usable, i mean if btc goes up and reaches let's say 25k usd then let's imagine the fees fr transactions, the congestion of the network etc. And even if the devs manage all these difficulties it will be a problem for a lot of users just to buy btc because of its high price wich is not convenient for everyday trades and paymenets... Also the price of btc which is the leader of cryptos depends directly on the will of the big owners and their interests and it is not sure that they want a very expensive btc. To keep volatility for gains the cryptos need to move constantly up and down maintaining a level friendly and affordable for the average user to participate. If they let btc reach the 30k usd then we talk about an elite coin which is not anymore fully tradable and not at all friendly for the poor users. Anyway this is just thoughts, it's quite impossible to predict anything about btc but the fact of its existence and evolution might be enough for generating at least a collective hope for better economic days!!! Thanks for reading my comment, follow you have a nice day!!!

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I think you have to think in Satoshi. There are 100 million in a bitcoin. The technical stuff re. scaling and fees can be fixed (theoretically). Satoshi can be further subdivided if necessary. The issue is governance - how do you get upgrades done on the bitcoin network given all the ideology and division around SegWit2x. If these things don't get fixed then bitcoin is Gold 2.0 for international trade (assuming volatility dies down) and some other crypto becomes the "digital cash" of the bitcoin whitepaper vision.

Agree, I think also that some altcoins could replace easily btc for the everyday use and also trade or investing in small digital business... it's a matter of what options people choose and how to manage the practical aspect of the cryptos beyond ideologies! Thanks for replying have a nice day always!!!