In this video, I want to discuss the current challenges facing Bitcoin, the potential scenarios that could arise in the near future, and why it’s important to understand the true utility of Bitcoin. You can find a summary below.
1. The Speculation around Bitcoin:
Many people view Bitcoin primarily as an object of speculation. The problem here is that if the speculation subsides, the value of Bitcoin could drop significantly. It’s important to understand that Bitcoin is more than just an object of speculation.
2. The Role of ETFs:
An ETF could come for Bitcoin in the future. This could lead to an increase in investments, but there’s also the risk that if the ETF comes and many people invest, the “plug” is suddenly pulled, and the value of Bitcoin drops.
3. The Need for Clear Indicators:
It’s essential to have clear indicators of Bitcoin’s value. For example, smart contracts or other activities on the blockchain could serve as such indicators. These would show the true utility of Bitcoin, beyond pure speculation.
4. Comparing with Other Assets:
It’s important to compare Bitcoin with other assets like gold or stocks from companies like Tesla. These assets have clear indicators of their value, like the number of cars sold in the case of Tesla. Bitcoin needs to have similar indicators.
5. The Future of Bitcoin:
The future of Bitcoin depends on whether it can succeed in showing its true utility and not just being seen as an object of speculation. It’s crucial for Bitcoin to offer more utility than other assets like gold.
It’s essential to look beyond the mere speculative aspect of Bitcoin and understand its true utility. Only in this way can Bitcoin be successful in the future and retain its value.
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