Interesting points to note, I appreciate how you analyzed from an economic perspective.
The primary issue that Bitcoin is exchanged for fiat, because it cannot be created effectively due to computational challenges, as such demand and supply affect the price more than necessary.
Also, I hear that newer blockchain are trying to solve the issues with btc for the following reasons
1. It’s not a logical medium of exchange, cost and txn times are ludicrous.
2. As an asset class, it can’t be valued, it can only be priced- and it’s held. assets are primarily meant to attract a return.
3. The technology isn’t all that. Immutability isn’t the elixir we tout it to be.
4. Trust. Majority of global day to day transactions are cash based, even heavily Technology countries such as Japan are cashed based
Interesting points to note, I appreciate how you analyzed from an economic perspective.
The primary issue that Bitcoin is exchanged for fiat, because it cannot be created effectively due to computational challenges, as such demand and supply affect the price more than necessary.
Also, I hear that newer blockchain are trying to solve the issues with btc for the following reasons
1. It’s not a logical medium of exchange, cost and txn times are ludicrous.
2. As an asset class, it can’t be valued, it can only be priced- and it’s held. assets are primarily meant to attract a return.
3. The technology isn’t all that. Immutability isn’t the elixir we tout it to be.
4. Trust. Majority of global day to day transactions are cash based, even heavily Technology countries such as Japan are cashed based