Bitcoin reminds me of gold in a lot of ways, but mainly due to its nature to be less volatile than the altcoins, which are more like silver. The upside may not be as high, but the downside risk is lower, comparatively. Although I do not think we are out of the water yet, higher prices should be here before too long!
This has been a long slow melt down from $20,000 nearly six month ago and although prices rebounded some along the way, the trend still appears to be down. The $64,000 question is, "how low is this thing going to go before heading back up?" I am not a prognosticator of future prices, but I think we still head down for the short-medium term before reversing.
Do I think bitcoin is changing finance as we see it today? Yes, but I think the technology behind it is what is really changing the world.
Hive account@exyle posted a video a few days ago that really got me thinking. With prices around $6500 per Bitcoin, he proposed the question to everyone, "Would you rather have 1 Bitcoin for $6,500 right now or $6,500 in cash that you would bury for 10 years?" I think most people on Steemit are biased towards choosing Bitcoin and I myself would choose the same thing. Do I think Bitcoin is going to be the ultimate currency that is used globally? Most likely no, but would I rather have $6,500 in cash that decreases in value every single year due to inflation or Bitcoin that has a likelihood of gaining in value against the dollar.
Now if you asked me would I rather have $6,500 of Bitcoin or $6,500 of gold and silver that would be a tougher question if I had to hold it for 10 years. There is no doubt in my mind that gold and silver will be worth more in 10 years than they currently are today. It is possible that Bitcoin could be worth less than $6,500 per Bitcoin, but it is also entirely possible for Bitcoin to be worth multi-multitudes higher than it is right now. Only time will tell!
As of 6/14/2018, if you had $6,500 that had to sit in one place for 10 years that you could not touch, which would you take?
posted a video a few days ago that really got me thinking. With prices around $6500 per Bitcoin, he proposed the question to everyone, "Would you rather have 1 Bitcoin for $6,500 right now or $6,500 in cash that you would bury for 10 years?" I think most people on Steemit are biased towards choosing Bitcoin and I myself would choose the same thing. Do I think Bitcoin is going to be the ultimate currency that is used globally? Most likely no, but would I rather have $6,500 in cash that decreases in value every single year due to inflation or Bitcoin that has a likelihood of gaining in value against the dollar.
