Quote:
Originally Posted by ErvGotti
There are a lot of tech savvy people who compare it to the internet. Some estimates put crypto technology adoption comparatively to the early 90's of the internet or early 2000's flip phones. Remember cryptocurrency is not just a decentralized currency, a lot of the blockchains are platforms to build off of.
I'm no expert by any means and I still have a hard time trying to understand it, but with the technology expanding and Institutional investor's taking a serious look at it, it's only a matter of time before it becomes part of everyday life.
The market cap for bitcoin alone is now 1 trillion usd, with alt coins it's closer to 2 trillion. The person saying that investing in bitcoin going to 100K is only a 2x multiplier and that they can invest it in stocks and get greater returns doesn't understand market caps. It's way harder for bitcoin to 2x because of the 1 trillion market share. That's like pushing AAPL's price to $260 2x of it's current price, it's going to require a ton of volume. OP if you would have bought bitcoin at 10 dollars when it's market cap was low, what's the multiplier from that price to now...exactly.
There's multiple alt coins that have the potential to 10-20x within this bull cycle which some estimates end it in September. The problem like you said is navigating and access to the exchanges. Which I believe will become easier as the platform evolves. Maybe in time for the next bull run. Again do your own DD, but I believe ETH will cement it's future in blockchain and BTC will cement it's status as a store of value (it kind of sucks as a blockchain)
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I think I agree with your assessment of ETH and BTC. You hit on the underlying blockchain performing a function. This is really important. I may be off base as my knowledge is still very low, but I like the blockchain to internet explorer, Netscape, etc. In that scenario there were only a handful of options and some didn't survive. Look at all the blockchain types. I don't think it's possible for there to be a high number of successful platforms. Most will falter, institutions will inevitably adopt or create something new. Again I think this circles back to confidence in Eth, but most others will likely fail. That's not too say that will happen in the next five years. I believe we are still a decade away from mainstream acceptance and use.