Other than smart contracts - what has ETH brought to the table that provides value? Actual value that brings companies to the table to invest??
what is actual value if fiat currency that all we like?The GDP of the country from which the fiat currency originates from?
LOL
How dumb is that question - a fiat currency is based on the local population that goes out and works, provides a service or product, puts the product or service into the market and attempts to make a profit. Also albeit a small percentage is from outside countries holding that fiat currency in reserve - AKA the US dollar is held in multiple countries as a reserve currency to provide security in case the local fiat currency loses value.
If tomorrow the CC bubble bursts - there would be only 3-5 coins that would be able to liquidate their property to cover the losses incurred by investors.
What does BTC have to offer that would cover it's investors? Does it own buildings? Does it own technology that is patented that it could sell off? Does it own land?
BTC / ETH / LTC / BCH / BTG have nothing that they can liquidate to cover losses. It is pure SPECULATION at this point.
Maybe tomorrow BTC buys up land and builds malls and introduces a payment gateway - that would build confidence and provide something tangible. But nope - BTC just wants to be the next gold standard.
And you guys think BTC is different than BTC or BCH or that ETH is somehow different than BTC
LOLOLOLOLOL
I love it tho - your guys's speculations provide volatility in the market which creates so many opportunities to make money.
In practice, fiat currencies exchange rates are governed by offer and demand, exactly like cryptocurrencies. The only difference is that central banks try (not always very well) to buffer the swings by buying and selling currencies using their own reserves. Central banks also try (not very well) to control monetary volumes by setting interbank interest rates.
How fiat monetary volumes increase? Through bank loans and mortgages (when you get a mortgage you practically create money out of thin air, backed by the asset that you are trying to buy)
How cryptocurrencies monetary volume increase? By mining.
The day we go through another serious economic crisis, people might lose once for all, trust in fiat money and the weight of cryptocurrencies will increase.
Yes, yes, I completely understand where you're coming from and agree - to an extent.
But this is the reality of BTC - it is driven, purely and solely on speculation of price points. When price confidence is high - BTC goes up. When confidence wanes, it goes down. This is not how fiat currencies work.
This can be seen by the monthly corrections. However, let's say that BTC hits $100k per coin - the only way to buy into BTC is through fiat currency. If all of a sudden confidence is shaken from a number of things - the $100k starts sliding. Each slide that occurs - you lose the fiat currency value that was put into BTC. Effectively taking away from the wealth of everyone involved and directly impacting local and national economies.
Miners will not always be there - BTC will have to evolve to cater to needs. The fees for one thing are a HUGE obstacle for BTC. The coding will be another obstacle.
As soon as quantum computing becomes widely used - 51% network attacks will be a real thing - they will be able to manipulate BTC transactions. Transactions times will increase. There will be more hard forks in the future and people will simply get frustrated. These things will impact confidence.
BTC was great from 2012 to today and possibly the next 2-3 years but who knows after that - the cloud of doubt is made strictly because BTC is a product of speculation.
Speaking of speculation - look at BTG and BCC this morning - both of them dropped last night 25-30% and are now up to break even. Their going to fall a little bit more during the next few days - people's confidence will go away and so will the volume and then the whales will come back in, throw it back up and bam - all of a sudden confidence is back.
