-
Number of BTC transactions hasn't moved since this time in 2016 and LN is clearly a complicated mess without much chance for adoption in the near to medium term (or maybe ever)
-
BTC "dominance" is again over 50% and "market cap" just barely over $100bn. A 6% drop in price would push the total "value" of BTC below $100bn and further impact the confidence of fools who invested in it in the past year and are now underwater
-
Look at top trading pairs of BTC - two largest are derivatives and USDT (both fake) and you have to go all the way down to #13 (CoinBene, BTCETH, 0.63% share!) to find an actual cryptocurrency pair. Almost everything is fake! (I can't believe so few people are amazed by this)
-
Right now average transaction value of BTC is around $26K - obviously it's used mostly for arbitrage (trading). Median tx value is $373, which is obviously also traders (retail traders)
-
BTC is useful only for trading, but even that won't last long. USDT's daily volume is 65% of BTC's and nearly equals the total volume of all other Top 10 currencies (except BTC). I haven't found a good way to track the growth of USDT in trading, but I checked top 5 currencies and all of them trade primarily against fiat and USDT - not against BTC. As new "stablecoins" are added, what do you think will happen to BTC trading volumes?
-
BTC moves close to $6bn of value every day. That's not much more than is traded on exchanges ($4.4bn) so once trading volumes drop ('cause you can't beat the convenience and cost of stablecoins if trading is permissioned), what other use case will be left for that "store of value"?
-
BTC is becoming more useless and less of a store of value every week. Bitcoin Core community has spent years solving fake problems and it's showing
Can't wait to see how much other people's money are experts like Novogratz going to lose in H2 '18!
[link] [comments]
source https://www.reddit.com/r/btc/comments/96e9y7/fake_dominance_btc_as_store_of_value_destruction/
Comments
Post a Comment