Please tell me more about the real growth of BTC. Tell me what modern financial and economical problems has BTC solved.
There was only one significant problem to
be solved and that was how to implement a pure monetary bearer token on an electronic platform.
Bitcoin is solving this problem successfully while Ethereum has been a disaster at it so far, on two counts in particular:
• the original chain has already been reproduced so it can kiss goodbye any hope it ever had of long term store of value
• it isn't a monetary asset, its value is implicit and based on the speculative monetary velocity generated by the business model contracts running on top of it
As regards merchant adoption and so on, you should familiarise yourself with the distinction between currencies and their underlying collateralising assets. Bitcoin doesn't need merchant adoption to do its job (store value). No collateralising asset does. It just needs to hold and accrue value long term against significant fiat currencies.
If you really think FOMO price spikes over a 3 month period is a sign of the long term viability of an electronic asset then the recommended cure is a quick look at coinmarketcap.com in internet archive for a comprehensive presentation of skeletons that were all about to be "the next bitcoin"
Investors don't care about the specifics of hardforking. If the hardfork solves a problem then no specifics are needed. Nobody cares about the religious dogmas of the small cult surrounding this technology. Investors just want fast solutions that work and that's it. Religion vs rationality conflict that bitcoin experiences is just tiresome for any outside observer.
And I would never consider something as speculative as crypto as a proper store of value. A good store of value asset is something that is actually needed, so it's production, demand and value can be relatively safely speculated. Cryptos are just for the temporal game. When one crypto will actually start solving practical problems, then it will get interesting and possibly even as long-term investment. Otherwise I think it's ..brave to sit on a crypto even a full year.
Bitcoin is a crappy monetary asset because it lacks value stability. You can't actually use this monetary asset as a value reference unit in practical business, because it lacks the needed stability. If bitcoin will loose it's attractiveness for speculation, then many won't play with bitcoin anymore. Majority owners of bitcoin did not buy it because it's an convenient form of monetary asset. Their main goal was either to speculate by selling later with a higher price, or maybe use bitcoin in the tor markets where only bitcoin is allowed. If someone considers this as a solid pillar for an long-term investment, then I think that Darwin will do his thing.
FOMO is the god of crypto. You must bow to FOMO and witness its superiority to receive gifts from it. As long as there aren't any cryptos out there yet, that are practical outside of black markets, then FOMO is the only driving force for everything here. Even a bitcoiner has to bow to FOMO, even if FOMO loves it's younger children more..
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