So today we are in bear market with a huge disbelief
Bitcoin is now going through hard times with stupid hash wars, global critics, you can't buy many things with BTC, I mean you can't live spending only BTC, at least in most countries. Transactions are slow, fees are big. We all know this, however we have Elon Musk, N. Nassim Taleb(visited blockchain conference today -
https://www.youtube.com/watch?v=Da0aXfshlxM&t=1144s) talking on Bitcoin.
I actually don't know if anybody else talked about BTC from realistic point of view. I mean people who is not connected to this crypto-world. Do you know anyone? I mean these mr. W. Buffet quotes are hilarious.
So today everyone knows how to short, many people still in the game but not expecting too much from this. So we can say that it is probably a new period to gain new hype and adoption cycle. I believe next hype cycle will take place when halvening and lighting happens. What are your thoughts on current situation, and how do you see bitcoin or any other crypto being adopted as a paying instrument for anything being such a volatile asset?
Yrgxlrm rh fmhglkkzyov, low hklgh. Global critics will always be there! Even if bitcoin someday goes up to $25k, we will have some critics saying that "bitcoin will not die well"! So firstly we need to ignore such critics from our life and thinking process so that negativity doesn't affect us!
The hash war is temporary and will eventually stop to pave the way for further growth! LN will definitely help to solve the scaling issue once and for all. However, the adoption will remain a big challenge even in 2019. Banking industry is the one who is opposing the adoption of cryptos big time and due to their strong lobby, it is very hard for the policy makers to draft anything positive for cryptos!
However, sun rises after a long cold night! We are just passed the first hour probably and we still have a long way to go!