Sunday, 16 June 2019
In my opinion, yes, absolutely, Bitcoin will eventually hit $100,000 US dollars per coin.
But my prediction isn’t really about Bitcoin.
My prediction is about the dollar.
In some sense, your question can be restated like this: “Will the Federal Reserve keep printing dollars?” And the answer is “yes, absolutely.”
If Bitcoin is meant to replace centralized Fiat currency, what should its value be described in other than US dollars?
My answer is Time.
I think everyone should measure everything - including cryptocurrencies, fiat currencies, and anything they own - in the most important asset there is: time.
And my answer applies regardless of whether or not Bitcoin replaces fiat currencies.
My answer comes from two simple ideas:
No, I do not believe Bitcoin will be a commonly used currency for the general public in the next 5 years, or ever, but it’s not because of the limited transaction processing capability.
Even if Bitcoin could implement upgrades and become “infinitely scalable,” a simple truth remains: Bitcoin is too good at being money to actually be used in day-to-day transactions.
I wrote a post about this here:
Sunday, 2 June 2019
Operating unlicensed Bitcoin exchange results in a 2-year prison sentence
Morgan Rockcoons, who also passes Morgan Rockwell, was sentenced to 21 months in prison by U.S. District Judge Anthony J. Battaglia for wire fraud and operating an unlicensed money transmitting business.