I think bitcoin, unstable, as we see in this week's week, market conditions are very fast changing, for me, maybe that makes bitcoin prices unstable, maybe its a lot of people who buy bitcoin simultaneously then the price will certainly go up and on the contrary many people are selling bitcoins simultaneously, this is what makes bitcoin prices become unstable.
Well bitcoin's nature is always unstable or volatile and unpredictable..The virtual currency has a long way to go for becoming better and for people to understand more of it's usage and benefits. Many people around the world does not know about bitcoin nor understand it's importance possibly if bitcoin will be intruduced and properly understood to all the people all over the world and people starts use it and integrate it to their daily life then eventually it can become a world currency that by then we can say that we will have a stability of value for bitcoin.
i do believe that if society lost faith in fiat and started to value bitcoin more, Amazon may well create their own rather than use bitcoin. Crypto gaining traction is bitcoin’s first battle. Maintaining its popularity in a world where a few massive online retailers will have such influence, and could potentially be competitors would be battle number 2.
Also, I wasn’t comparing bitcoin with childhood drawings. I was using childhood drawings an example to illustrate that scarcity isn’t a source of value. I agree it amplifies value though.
Also I never really get the speed and cost argument. At the moment I can transfer money instantaneously and for free through my bank. Why would I want a system which costs peanuts and is only almost instantaneous?
