Everyone seems to have an opinion on how much Bitcoin and all these cryptos should be worth…. It seems like everyone is in 1 of 2 camps as usual, yet another binary argument…..Either they think it should be the only thing with value in the world or it’s a zero…… Reality as usual is somewhere in the middle.
But how should we know what’s worth when we haven’t really defined what it is! First let’s talk about what it isn’t….
Well as of right now in 2018 it’s not a currency! The name Cryptocurrency is totally misleading! I can’t directly pay my mortgage with bitcoins, the IRS won’t accept Tax payments in bitcoin…
It’s not Gold either! How can you be called a store of value when you’re value gets destroyed at an almost unprecedented rate! Ethereum the world’s second largest Crypto is down over 80% from its January highs! Stability is key component of value storage!!!
It will also be key to see how cryptos do when the stock market hits the skids….. Gold typically acts as a safe haven in times of uncertainty, and catches a bid, will crypto?
Well then what is it were buying! We’re buying a speculative asset with a valuable technology.
The technology behind blockchain, can be a powerful tool for financial transactions in particular but were not there yet. And we don’t know what shape or form blockchain will look like when it’s widely utilized
To learn more, make sure you watch the video above!
And as always, stay Fallible out there investors!
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***All content, opinions, and commentary by Fallible is intended for general information and educational purposes only, NOT INVESTMENT ADVICE.
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