Why Bitcoin is destined to become a niche asset
A cryptocurrency reality check
In the long term, Bitcoin has little to offer to a wider audience, and will likely return to being a niche product for a select group of enthusiasts. What they
regard as key benefits, may actually be impediments to wider adoption.
Moreover, bitcoin’s high value today is based on shaky foundations, given that the platform is open source and can, therefore, be forked and copy-pasted easily.
Scope for such cryptocurrency debasement is limited only by network effects and switching costs, but those may be smaller than expected.
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