Topic: Is the current market value of BTC justified? - page 2. (Read 194 times)
I somewhat agree to your point. Bitcoin was initially created to introduce a peer to peer decentralised payment system. But looking at the current scenario, I can say that we have moved out from the trail of the actual goal and Bitcoin has now became an investment asset. However, I can say the problem is with the people associated with bitcoin entirely, but the bitcoin network has also played a role in it. I mean, who would be interested in paying an exorbitant transaction fees? The current average transaction fees is 26 USD which is absolutely ridiculous. People will slowly move to technologically superior currencies like ETH or REO if it continues.
It seems now that BTC and many of the main cryptos are our of reach for a majority of people. It’s become a speculative disaster waiting to happen. A peer to peer decentralised form of payment now left in the hands of 2 individuals who own more than 40% of it and an ever increasing and volatile price which makes transacting in BTC for goods and services practically impossible. It’s fair to assume that satoshi would be appaled by what is taking place.
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