Bitcoin is innovative, it is ground breaking, it is disruptive.
That's not enough, its never the invention but mass adoption of the technology that drives a cycle.
For the next rally to be truly sustainable Bitcoin needs a critical adoption and a new killer app. Silk road is one of the first true killer app of Bitcoin, including Purse.io that provides people an incentive to use it. The anonymous and frictionless money for drugs, and discounts on Amazon.
The same can be said for the tech bubble of 2000s.
The core companies that made up the ecosystem of Bitcoin are not faring so well too. Bitcoin's technology, the Blockchain might well be the one that kills it. Circle, Bitreserve, BitPay.
www.businessinsider....oin-adoption-2015-11
Could it be the coming collapse of the U.S. Dollar that will push Bitcoin?
Not yet, I don't think it will lose its global reserve currency status at least in the next 10 years. There are over 100s of trillions of assets detonated in USD (bonds, treasury, real estate, stocks). Next panic will instead set off a rally in dollar when they're all converted to cash. Dollar is really still the best bet, even if its massively printed by the FED.
China have a bigger problem in their hands, from the collapse of their housing bubble to stocks and a weakening economy that still relies heavily on export. They'll never be ready to take over just yet. Not even China's gold holdings, when its value drops massively against the USD. After all who cares about the yellow pet rock when its not gaining in value? (people are delusional yes, although it defines the true money and not 'currency')
No other country is even close to being ready to take over the USD, and they're illiquid and given their relative size they will not allow appreciation of their currency or the cost of living for the locals will hyperinflate (ask the Swiss)
Ask any man on the street, and they're still happy with their dimes, pennies, Dollars, and plastic.
Is there any other reason to use Bitcoin other than that?
Sure you may say that the Greek or the Chinese are getting their money out of the 'capital control' area, but eventually they're not keeping in BTC but another FIAT elsewhere in the world
I think that Bitcoin will do well in sideways over the next few years, but hardly a bubble we've seen in 2011-2013 at least in the next 5 years.
Give it time to innovate in niche market, and muscle its way into mainstream but never give it up entirely.
That's not enough, its never the invention but mass adoption of the technology that drives a cycle.
For the next rally to be truly sustainable Bitcoin needs a critical adoption and a new killer app. Silk road is one of the first true killer app of Bitcoin, including Purse.io that provides people an incentive to use it. The anonymous and frictionless money for drugs, and discounts on Amazon.
The same can be said for the tech bubble of 2000s.
The core companies that made up the ecosystem of Bitcoin are not faring so well too. Bitcoin's technology, the Blockchain might well be the one that kills it. Circle, Bitreserve, BitPay.
www.businessinsider....oin-adoption-2015-11
Could it be the coming collapse of the U.S. Dollar that will push Bitcoin?
Not yet, I don't think it will lose its global reserve currency status at least in the next 10 years. There are over 100s of trillions of assets detonated in USD (bonds, treasury, real estate, stocks). Next panic will instead set off a rally in dollar when they're all converted to cash. Dollar is really still the best bet, even if its massively printed by the FED.
China have a bigger problem in their hands, from the collapse of their housing bubble to stocks and a weakening economy that still relies heavily on export. They'll never be ready to take over just yet. Not even China's gold holdings, when its value drops massively against the USD. After all who cares about the yellow pet rock when its not gaining in value? (people are delusional yes, although it defines the true money and not 'currency')
No other country is even close to being ready to take over the USD, and they're illiquid and given their relative size they will not allow appreciation of their currency or the cost of living for the locals will hyperinflate (ask the Swiss)
Ask any man on the street, and they're still happy with their dimes, pennies, Dollars, and plastic.
Is there any other reason to use Bitcoin other than that?
Sure you may say that the Greek or the Chinese are getting their money out of the 'capital control' area, but eventually they're not keeping in BTC but another FIAT elsewhere in the world
I think that Bitcoin will do well in sideways over the next few years, but hardly a bubble we've seen in 2011-2013 at least in the next 5 years.
Give it time to innovate in niche market, and muscle its way into mainstream but never give it up entirely.