RE: Why I'm Negative on Bitcoin

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Why I'm Negative on Bitcoin

in bitcoin •  7 years ago 

Greetings-I thought this was a great video. I have watched other videos on the channel and felt like this one stood out a little more to me. I love your sentiment on BTC because I feel like we are one (albeit small) step closer to critical mass, which is good or bad based on ones opinion. To your point my friends and family have begun to ask me about investing in crypto which I have mixed feelings about because they are not interested in the underlying technology but rather simply want to make a quick and easy profit.

Speaking specifically about BTC I echo the comment from li0 below regarding the extremely high tx fees as well as time it takes to complete a tx. I saw one recently where it cost $81k in fees to spend $24! Additionally, I wanted your take on the following. Do you feel that people are investing in BTC because they are investing in a 'brand' rather than the other benefits of the coin? IMO popular demand is continuing to drive the price up and we continue to see these small bubbles pop only to continue to build back up. In the future I can potentially see a flip between BCH and BTC in terms of price and practical use as people wise up on the real practicality of the using BTC as a viable currency. Thoughts?

Looking forward to continuing to contribute!

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