I see BTC topics on my Facebook, gaming forums, investment forums and it seems like this hot sure thing. It's actually becoming so persuasive and the bubble has been so resilient people are throwing in their life savings when to me, and older investors in general, the end of bitcoin is actually pretty obvious.
BTC energy consumption will force governments to outlaw btc. This will relegate it to a black market currency/commodity only. Price will crater quickly. Many will stay in because BTC has mini crashes frequently.
The people who say blockchain will force economies to adapt don't understand economics or world fiscal policy or taxation or any of it really. It all exists because of backing and trust. If BTC had no energy or illegal transaction drawbacks I could maybe see Btc having a chance. As it stands I see it as the worlds largest financial catastrophe that will effect a specific subset of humanity that is already set to be the poorest generation yet. I am very concerned about the incredible lack of foresight people are displaying in the face of past historical gains.
BTC energy consumption will force governments to outlaw btc. This will relegate it to a black market currency/commodity only. Price will crater quickly. Many will stay in because BTC has mini crashes frequently.
The people who say blockchain will force economies to adapt don't understand economics or world fiscal policy or taxation or any of it really. It all exists because of backing and trust. If BTC had no energy or illegal transaction drawbacks I could maybe see Btc having a chance. As it stands I see it as the worlds largest financial catastrophe that will effect a specific subset of humanity that is already set to be the poorest generation yet. I am very concerned about the incredible lack of foresight people are displaying in the face of past historical gains.