I have read in the news that that like bitcoin as virtual currencies are assets and does not have the characteristics or what it takes to be a currency that could meet our modern economic needs. It was said that it does not have the fundamental attributes. What are your thoughts about it?
Let me make it totally clear here in my reply that I am not saying that bitcoin won't be a currency for everyday usage - I am not commenting on bitcoin becoming a currency one way or another.
What I am saying is that even if bitcoin "only" becomes a major asset (or more major than it already is) - then this is still a huge, huge, huge opportunity. If bitcoin "only" becomes digital gold then it has characteristics that make it superior to gold on different levels - such as a finite cap and the fact that bitcoin will eventually be mined at a slower rate than gold is discovered and mined.
And the ability to transfer faster and cheaper than wire transfers. Even in their slower periods of transferring, bitcoin is faster and less expensive than a wire.
So between a supply that increases at a decreasing rate until a cap is hit AND the ability to transfer that more effectively, we could see bitcoin being a great asset. Even if if only stays at that level.
If it hits mainstream, day-to-day currency status, then here we go.
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