Hmmm… I guess this is a good illustration of why “deserve” isn’t a good way to put what I meant.
Bitcoin isn’t actually any good at what it’s meant to do- it’s really a failure as a currency. It has been a rewarding store of value for a while, but I expect it will be displaced as a store of value by currencies that are more easily moved from account to account. Transaction fees are often too high, and will likely increase, and it is slow to process transactions (the slow speed isn’t a hindrance to its quality as a store of value, but it does reduce its economic desirability; transaction fees are very much a problem for a store of value)
I expect in the long run, economic forces will drive BTC to nearly $0 without any regard to what it morally “deserves”.
In a universe that cares about “deserve”, diamonds would crash to $0 first. Bitcoin at least doesn’t run on slave labor.
Hmmm… I guess this is a good illustration of why “deserve” isn’t a good way to put what I meant.
Bitcoin isn’t actually any good at what it’s meant to do- it’s really a failure as a currency. It has been a rewarding store of value for a while, but I expect it will be displaced as a store of value by currencies that are more easily moved from account to account. Transaction fees are often too high, and will likely increase, and it is slow to process transactions (the slow speed isn’t a hindrance to its quality as a store of value, but it does reduce its economic desirability; transaction fees are very much a problem for a store of value)
I expect in the long run, economic forces will drive BTC to nearly $0 without any regard to what it morally “deserves”.