**Bitcoin and Crypto are the worlds most interesting phenomina this century. **
Starting at $0, BTC has rocketed to a peak of $20,000 - the best return on investment in history.
Now that only a small percent of World Population even knows about bitcoin, let alone understand it or hold it - this leaves room for huge growth. Some predict a 13% population growth in BTC wallets/investments - that is an increase of user base by 910,000,000 people!
With BTC halving of the currency mined, it will further drive the price up. Some predicting $50,000 to $100,000 mark.
So why will Bitcoin fail?
There are a few simple reasons that most crypto enthusiests overlook or do not want to acknowledge:
- Blockchain is really the shinning start of BTC and most Cryptos. This is a free, open source code that anyone can copy. (See Dogecoin).
- Like AOL in the 90s, they charged $29.99/month for email. Who pays for email now?
- Cryptos will always have centralization. Either by minners, or whales.
- There is no 'backing' of a real value asset, all money flow into cryptos is fiat currency.
- If they become backed, who controls the actual assets?
- Unsustainable energy demand: Even with lightning networks, the demand on energy is too great and will hit a wall.
- Cryptos can be tracked, weather its through the exchange it was bought, the address of the goods you purchased goods for, or the new tech that can track the blockchain currently used by the Feds.
- In a crisis, all cyptos have no value. See Venezula, see Puerto Rico, see any country that has a political or natural disaster. When there is no power, there is no crypto.
- The silver extinction and its industrial effect. Today silver is invaluable to solder and brazing alloys, batteries, dentistry, glass coatings, LED chips, medicine, nuclear reactors, photography, photovoltaic (or solar) energy, RFID chips, semiconductors, touch screens, water purification, wood preservatives and many other industrial uses. Washington-based industry group the Silver Institute calls it "the indispensable metal".
- If you can't hold it, you don't own it. Crypto is just another fiat currency, backed by a waste of energy and more fiat currency.
-Waterfirepaper