When it comes to crytocurrency one of the best of them all is the bitcoin,
well i know some of you agree or disagree but before you think of buying/investing/mining i think you should hear my personal opinion. The following factors are increasing the long-term value of Bitcoin:
1) Age of Bitcoin. The longer is the history of some tech, the more people trust it. More people are realizing that Bitcoin is not going to crash.
2) Growing number of Bitcoin users. As there is a limited number of coins, more Bitcoin users means more scarce coins. More users also means that there are more ways to spend your coins, thus Bitcoin is becoming more useful as a system.
3) Bitcoin is becoming more accessible for non-techie people. There are user-friendly wallets, BTMs, good video manuals, Bitcoin debit cards, ETFs etc etc. It’s significantly easier to own/use Bitcoin today than 5 years ago. And in the next 5 years it will be even easier.
4) The legal status of Bitcoin is becoming clearer. Some developed countries already incorporated Bitcoin into their legal frameworks (taxation, regulations etc), other countries are working on it. More people can be sure they’re not breaking any laws by using Bitcoin.
5) The world is transitioning to the digital economy. Digital money is becoming a norm, thus increasing the trust in cryptocurrencies.
6) Growing number of lost coins. As people sometimes lose their wallets etc, coins are becoming more scarce.
7) Technological improvements in Bitcoin. Bitcoin itself is becoming better: bug fixing, new features added, hashrate increased etc.
8) Growing adoption of Blockchain by all kinds of industries. The more people trust Blockchain, the more they trust the currencies based on Blockchain.
9) Growing number of people who distrust the Government and the banking system. The mass surveillance scandals, the banking crisis, the insanity of Venezuela and India etc. Such news are making people seek for alternative solutions.
10) Growing demand for privacy. More people are realizing that financial privacy is important. Thus, more people are using Bitcoin (and other crypto) to hide their capital from totalitarian governments and other criminal organisations.
11) Growing number of Internet users. A half of the world population still doesn’t have any Internet access at all. As more people get the access, more of them will learn about the „currency of the Internet“ and adopt it.
12) Growing acceptance of Bitcoin as a store of value. The factors #1 and #9 are making Bitcoin more attractive as a store of value, thus increasing its popularity (#2).
13) Declining rate of issue (ie halving of the block reward) increases the scarcity of coins.
14) Globalization. Because of it, the number of people using BTC to transfer money to loved ones at home is getting bigger. Currency conversion and international transaction fees are huge, and Bitcoin mitigates a lot of that expense.
15) Declining volatility. As the adoption grows, the fiat/XBT volatility decreases, making Bitcoin more useful for everyday purchases.
16) The world is transitioning to renewable energy. Solar is already the cheapest energy source in some countries, and the price of it is falling dramatically. Cheaper energy means more decentralized mining, thus making the system more robust. stop!! think and re-think ,i would not want to choose for you but i think these factors here are really what you should think of before trading.
src: some guy wrote this in comments under CryptoNick’s video
and I’ve enjoyed that read, so I have saved it, and now I’ve decided to share it here, thou I can’t find it there anymore, so when someone finds that comment,
just let me know and I put the author here in src..
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