Bitcoin : Where do I go if I want to believe?
Basically, I want to know why I hear people say “bitcoin is king”, “bitcoin is long-term”, and HUGE estimated values like 200 000/coin, etc. I do not have sufficient knowledge to prove or disprove those claims, so I won’t pretend to understand.
However I’ve traded quite a bit of different cryptos, and Bitcoin, to me, seems to be nothing else than the face of crypto, for the average joe that’s not too much into crypto.
Again, I do not intend to spread FUD, but here’s the concerns I have or heard of… the mining pools are extremely and worryingly centralised(verified), no matter how many people mine it, the actual power is not decentralized(fact), the transfers are very, very painfully slow(fact, but can potentially be fixed), the fees are outrageously high (fact, but can potentially be fixed) and the few people who own the github accounts seem to have the potential to royally fuck up the current bitcoin network(pure speculation/rumor). And on top of that, Bitcoin is not in any way an asset coin, but just a currency, which means it holds no value other than what we’re willing to pay for (fact).
BUT
Seeing how this many people seem to believe firmly in it, I’m wondering if I am wrong and if there are things I’m not understanding. Those bold claims about future prices seem completely unrealistic to me, and bitcoin seems like a completely outdated and obsolete coin. So I’d like to be redirected to a place where I could read why I’m wrong and why bitcoin is king. I am open-minded, but with what I know right now, bitcoin doesn’t seem to be going anywhere but down in the future.
I don’t mean to be sassy or negative, I just want to understand. Please enlighten me.
A curious fellow investor,
Thanks 🙂
Bitcoin
Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority.
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Author: Cromm123
Score: 5
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