29 Nov '17, 7pm

This may go down as the best price analysis of all time

Bitcoin is an asset which has never existed before. It is similar to gold. Supply is finite. Takes effort and resources to produce. Functions as a store of value. Can be used to facilitate commerce. On this last point, gold isn't widely used anymore, but it once was. Gold has serious drawbacks. Its heavy. If you want to pay someone in gold you have to do it in person which could be dangerous if they are some rando. Doing it remotely requires secure transport and some way to guarantee payment. So here comes bitcoin, a deflationary asset like gold, with the liquidity of credit cards, no dependence on a third party, the ability to transact globally and some privacy (not enough which is one issue with bitcoin). The financial sector is having a problem grokking the potential and since its growing so fast, the only other scenario that seems close to what we are seeing are the ma...

Full article: https://www.reddit.com/r/Bitcoin/comments/7gg0j2/btc_drop...

Tweets

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The views and opinions expressed here are solely those of authors/contributors and do not necessarily reflect the views of...

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