I assure you Bitcoin is going down to Zero in 2023!
- Thread starter cuno
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Really funny! I believe it will go up to 100K US$ by the end of this year, after that it may fall.
Alternative forms of money require a benign government to allow for their proliferation, but a benign government negates the need for alternative forms of money. This is a political problem, and no amount of Bitcoin will help when the political eye turns against you.
I have no idea what Bitcoin will be worth in 2023. I can tell you that it will not be real money, just as it is not real money today. And it will not be the solution that many people hoped that it would be.
The crypto clique wear blinders in this regard. This sums up the problem nicely:
I have no idea what Bitcoin will be worth in 2023. I can tell you that it will not be real money, just as it is not real money today. And it will not be the solution that many people hoped that it would be.
The crypto clique wear blinders in this regard. This sums up the problem nicely:
@Golden Fleece the idea you pasted makes sense if people only transact real goods and services in fiat currency. The on and off ramps would then be the barrier between crypto and real-world transactions.
However, people are using crypto for cross border payments. People are buying apartments, villas, fine art, fines wines, etc. with crypto. Cryptocurrency is no longer the world of "Bitcoin pizza" or "can you buy a coffee with Bitcoin" that the media push.
There are real threats to crypto (and other media of exchange) in Western countries, particularly in the form of a Washington-Brussels alliance to try to re-assert the hegemony of︀ their currencies. But fiat off-ramps do not in themselves represent the limit of crypto adoption.︁
However, people are using crypto for cross border payments. People are buying apartments, villas, fine art, fines wines, etc. with crypto. Cryptocurrency is no longer the world of "Bitcoin pizza" or "can you buy a coffee with Bitcoin" that the media push.
There are real threats to crypto (and other media of exchange) in Western countries, particularly in the form of a Washington-Brussels alliance to try to re-assert the hegemony of︀ their currencies. But fiat off-ramps do not in themselves represent the limit of crypto adoption.︁
There are many people who measure their wealth in fiat and only use crypto for transactions, moving the crypto to or from their bank account.
There are other people who just do not think in that way. Their wealth is in crypto and fiat currencies are foreign.
For example we can reverse the "get paid in fiat" thinking easily by hearing people say "I hate how my rent has gone up recently". This is because they are paying rent in︀ their landlord's fiat currency but it's costing 50% more than it did in November. To︁ such people, the price of USD (and therefore their rent) has gone up but their︂ money (in crypto) has stayed the same. Similarly crypto to crypto transactions between people who︃ measure their wealth in crypto are stable and not subject to the volatility of fiat︄ currencies. I write crypto, but for now I find that people in this situation tend︅ to be primarily in either BTC or ETH and everything else is measured by that︆ currency.
It's just relativity.
There are other people who just do not think in that way. Their wealth is in crypto and fiat currencies are foreign.
For example we can reverse the "get paid in fiat" thinking easily by hearing people say "I hate how my rent has gone up recently". This is because they are paying rent in︀ their landlord's fiat currency but it's costing 50% more than it did in November. To︁ such people, the price of USD (and therefore their rent) has gone up but their︂ money (in crypto) has stayed the same. Similarly crypto to crypto transactions between people who︃ measure their wealth in crypto are stable and not subject to the volatility of fiat︄ currencies. I write crypto, but for now I find that people in this situation tend︅ to be primarily in either BTC or ETH and everything else is measured by that︆ currency.
It's just relativity.
Well, this 24-February-2022 is a decisive day for BTC (and all other crypto which follows BTC): If it does not completely collapse in the wake of the current geopolitical crisis it might indeed be here to stay.
- Will there be a new ATH in 2022: Highly unlikely.
- Is this important: No.
- What is important: That overall volatility comes down in order for BTC to be taken seriously ... (... as a store of value, which it currently is not - sorry Mr. Saylor).
Just merely speaking from a matter of facts, of course the price is highly unlikely $0. Even just because millions - if not billions - has already been invested in crypto startups, who will simply ensure some liquidity.
It of course is possible that we enter another bear market, but this is what makes crypto a speculative asset. It is extremely risky, but spreading additional FUD makes no sense. Also, the fact that your source exists out of a remix of some dude saying it is going to $0 makes me think you're just here to troll us 😉.
It of course is possible that we enter another bear market, but this is what makes crypto a speculative asset. It is extremely risky, but spreading additional FUD makes no sense. Also, the fact that your source exists out of a remix of some dude saying it is going to $0 makes me think you're just here to troll us 😉.
$0 BTC is a funny concept. There are plenty of people who would buy up all available BTC at the right price. There are fewer than 21,000,000.
If either party values their wealth in some fiat currency, then of course you are right the crypto is converted at one end or the other.
However, some people do transact in crypto with no fiat involvement. This happens when both parties value their wealth in crypto. There are people with piles of ETH︀ that they bought at $0.31 and there are people who bought piles of BTC when︁ it was <$250. They don't need to convert to fiat or calculate some fiat pretend︂ value of their transaction. They can transact in either of their native currencies and convert︃ between them without ever caring about USD.
I believe that exactly the same will happen︄ between RUB and CNY. No need to "dollarise" everything. It's taken 51 years since Nixon︅ accelerated the dollar's debasement, but finally the world is moving on.
If either party values their wealth in some fiat currency, then of course you are right the crypto is converted at one end or the other.
However, some people do transact in crypto with no fiat involvement. This happens when both parties value their wealth in crypto. There are people with piles of ETH︀ that they bought at $0.31 and there are people who bought piles of BTC when︁ it was <$250. They don't need to convert to fiat or calculate some fiat pretend︂ value of their transaction. They can transact in either of their native currencies and convert︃ between them without ever caring about USD.
I believe that exactly the same will happen︄ between RUB and CNY. No need to "dollarise" everything. It's taken 51 years since Nixon︅ accelerated the dollar's debasement, but finally the world is moving on.
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