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I've been following this forum for a few weeks now and I'm honestly shocked as to how little 95% you know about economics or finance in general.
The Bitcoin community is filled with young, uneducated, and over-excited children "playing" with digital currency/asset as a hobby. None of you have the slightest clue as to how quickly the entire value of Bitcoin could be brought down to $0 in a matter of days.
Put aside your egos and "to the moon" mirages and think about the following. How will Bitcoin react if:
1.) The US government starts to regulate it? Or ban it? (GASP!)
2.) Another exchange is found to be a fraud?
3.) A bank or government created it's own cryptocurrency that's legal and trusted?
4.) Bitcoin has trouble scaling and it take days or weeks for transactions to process?
5.) Mining is no long feasible or profitable?
I am hopeful that a cryptocurrency will emerge in the near future. However, in my opinion, the issues above need to be addressed for any new cryptocurrency to even have a shot.
Save the "oMfG you're a N00B with 1 p0St" bullshit. I am an active investor in many different markets and industries. I'm hoping to open some of your eyes and bring you back to reality.
Be carefull not to get dizzy up there, on the piedestal you have put yourself.
Kind of paradoxically calling people uneducated children playing with digital currency, followed with the phrase ''bitcoin can go down to 0$ in a matter of days''.
1) You do know that the Us goverment is not the only goverment in the world right?
What would happen if the Us gov. would ban Turkish Lira or Swedish Crown?...do you think everyone will stop using them because the Us gov. banned them?
2) People will stop using that exchange and people associated with it will lose credibility.
3) :barf
4) Lightning network or someother solution
5) How? ...dont answer
''oMfG you're a N00B with 1 p0St'' - seems prety accurate when Us dollars is the only way you can value bitcoins.
Sorry, but you have failed to open my eyes and bring me back to reality mister ''investor'' in many different markets and industries.
Btw, due to those young people optimism and enthusiasm Bitcoin is what it is today!
