Bitcoin is just under $8000. I’ve been watching and thinking hard. And it has now become CLEAR!
I AM NOT BUYING. Yes, I think there is a need for the ease of transferability inherent in crypto-currency. And stablecoins are able to accomplish this increased efficiency.
But bitcoin’s store of value feature, as the most universal crypto, with a fixed and thus limited supply, is incidental. And the anonymity which attracts some, is a feature that governments will tend or at least prefer, not to support.
The point is that the brilliant innovations that blockchain and crypto-currency brings to the market can be achieved with coins that are “Libra like.”
Why should I then speculate on store of value, which is dependent on lack of dilution from other coins, demand from those who want to remain invisible, and the absence of the discovery of an achilles heel, like the risks inherent in quantum computing that can possibly challenge bitcoin security?
It wasn’t to far back that bitcoin was literally trading for pennies. I much prefer gold that CAN’T BE MANUFACTURED and the platinum group metals, all of which have a powerful raison d’etre with truly limited supply and historical validation. Supply of precious metals will not be able to keep up with demand until we mine asteroids and that is decades away. And in the meantime fiat money is moving in only one direction.
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