Is BTC the actual future, or just the vehicle to awaken the masses?

Extremely interesting views on BTC being presented here in my view:

Not sure what parts I agree or disagree with, and to what extent yet, but definitely worth thinking about - and I’d really like to hear what everyone else thinks about this take on the social aspect of BTC, as the circular road back to a gold standard

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I haven’t watched the video but BTC being a circular road back to gold seems absurd. BTC is new technology and gold is an ancient artifact. BTC is a road to all currency being digital and capped. Whether the future digital, capped currency turns out to be BTC is quite another question.

Quite the opposite, BTC is going to make gold an outdated commodity. Why? Because the supply of gold is actually increasing. You can find more and mine more. The amount of BTC or other future digital currency will be capped. No new supply found, only some lost due to people forgetting keys. Also, the intrinsic value of gold is pretty limited to specific industries that need it for a good conductor, jewelry or other niche purpose. It’s valuable mainly because people decide it is. Just like BTC.

Gold has an advantage only if the power goes out, forever. In that case storing value will be the least of your concerns.

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Yes @CraigMak and a brand NEW application was just built on top of the bitcoin protocol:

Futures.

Next is ETF.

Bitcoin only grows.

Why CME Futures Matter for Bitcoin

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I think (again, not agreeing or disagreeing, and was working while listening, so I’ll have to re-listen, to completely get the argument straight) - but a case CAN be made, for BTC getting into “bubble” terriroty at some point (god, I hate that expression). I don’t think we are, or will be AT ALL, but I see his argument (and may be mixing the argument with a different interview, where BTC was mentioned as a potential bubble in the future, that had not come anywhere close to being it, yet).

But IMO, the technology of blockchain is what really underpins the value of BTC right?
Along with, as @CraigMak says, our united belief in it’s store of value. If we should, for some reason end up going away from BTC as a currency/SOV (which could still be the case as, well as not - it’s only the beginning after all :slight_smile: ), then the value of it would be solely based on the technology, and it may find itself overvalued before it’s true value is decided by the market, as it stopped being a store of value, should that ever happen.
With such a BTC black swan event, I could see the how the value could drop and stay down below ATH’s

(Again, I’m a long and true believer in BTC, also as a store of value, but it’s important to challenge your own views and not just preach your own truth to yourself as gospel, and never taking of potential blinders)

It’s an interesting idea to me, that BTC could be the way the masses understand that there can be better alternatives than the current system, but that doesn’t necessarily make BTC the defacto alternative does it?
(I couldn’t imagine BTC as a concept, before it became one, so who knows what will be next :slight_smile: )

But BTC being a circular way back to a gold-standard, I’m very sceptical about as well, don’t get me wrong.

Gonna procrastinate at work around lunch, and check that link @peter - have to know more about futures to speak to that as a concept in relation to this :slight_smile:

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Vehicle. Otherwise you would be using a Nexus browser instead of a Google Chrome Browser. Bitcoin is technology and technology evolves over time.

My best guess is that most countries will likely issue their own national crypto. It’s already happening. Although it is important to note that the issue isn’t creating the crypto - it’s creating the on-ramp that make it intuitively simple for people to adopt crypto. Currently it is a very painful process. Although much easier if you watch Peter’s videos. : )

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I have to agree with you. People will evolve same with technology. While Bitcoin might 7k now and maybe 50k in 3-4 years in 50 years it will be close to 0 because people invest into something “new”.

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