BTC is an old coin, slow and expensive to make transactions. If “lightning” works and takes off I think this coin will fly again. But otherwise I can no longer see BTC being used for what was intended, a replacement for Fiat. I expect the Altcoins to continue to make better progress and BTC prices to normalise. BTC prices are very inflated, they are only so expensive due to marketing, it’s an inferior coin, so why is it 8000X times more ?
The government regulation bans are causing these price drop scares as people sell off their coins, as we fear more countries will continue to adopt this and this will effectively close the market.
We are still in a good place in that Cryptos are being marketed, talked about and “normal” every day people are becoming interested and buying them. Although most of them are buying them as they see them as an inflating “stock” / get rich quick strategy, but this doesn’t matter as it all helps improve the usage of the coins. At this stage I think we are showing that this can work, we now need more merchants to start accepting crypto.
I think whoever has the best security ,transaction fees and transaction time is going to corner the market for adoption. Yesterday I read Starbucks will start accepting crypto and of course won’t be accepting BTC as it’s far too slow and expensive at the moment
As I have said on many other threads, I am looking forward to having a universal wallet on my android, that is cloud based i.e no block chain files stored on my SSD! . Using my fingerprint to unlock + NFC I can tap to use Oyster (tube travel), buy my lunch , buy my plane tickets. Fly to Europe and tap and buy my lunch there. Tiny fee charges and an instant conversion of fiat -> crypto. Prices are fairly stable, just like currencies. No crazy currency conversion fees or need to carry all these different cards, but “credits” that we top up from our paychecks.
Funny thing is, we could be there in a few years.
Small shops hate credit cards, due to the high fees. If they accept crypto they only pay fractions of a pence, meaning we can buy our candy from a newsagent and not have to carry coins! etc
Futures looking bright, don’t care about the prices, care about the regulators! :)