Not a day passes without the mentioning of Bitcoin or BTC. At work, in the subway, at grandmas 80s birthday or the local insurance guy; just about everybody talks BTC these days. Discussions, however, almost always circle around the fact how BTC has risen over 1000% within a year and all the money one has/could have made by buying BTC. Rarely I observe critical questioning and thinking of where the real value of this freshman financial asset lies. Should these discussions ever come up the bull case centres around these two arguments; “BTC is the better gold” and “BTC is a currency everyone is going to use”. Let me briefly talk about that.
Will BTC be a world currency?
Picture the financial system relying on BTC. It would look something like this: While limiting the amount of coins issued to 21mm is one of BTCs biggest selling arguments it is at the same time its achilles heel Continue reading