The only value of bitcoin is speculation. Thats the ONLY VALUE. If you try to compare it with the US dollar, um that backed by the US government. Crypto is skyrocketing because people who have cornered the market are anticipating that the US government might back it, why would they do that?
Why would the US government back, and support and gurantee the bitcoin? What's special about it? I can go make a meme coin right now on a website, toddlers on the internet do it all the time. So ask yourself, What is the actual value of a bitcoin? Its just the people owning it speculating on its value. Pure illusion. Its the biggest bubble in the economy today and it illustrates how stupid the average person is.
also,
You know who loves crypto? Criminals. Everytime I talk to somebody pumping crypto in real life, I get a little question in my mind. Why would someone need non traceable currency? You want to know who's happy its going to the moon right now? Child traffickers.
I'll start from the top.
Bitcoin's only value being speculation is wrong in my opinion. The ability to send money instantly to anyone anywhere is worth money. Western Union was still worth ~$5B last time i looked. But you are correct, a large portion of BTC's value is speculation. Much like real estate, art, stocks and many other things.
You are correct, the Dollar is backed by the US government, which is backed by it's ability to tax. Bitcoin is backed by mathematics.
Why would the Government back, support, guarantee BTC? First of all no one backs or guarantees bitcoin. It is guaranteed by mathmateics. It is also not advertised to be impenetrable. In theory, it could be broken. It's just highly unlikely.
So go make your meme coin and let us know what kind of value you produce. Bitcoin has value because people agree it has value. Much like art, real estate,
You know what else criminals love? The dollar. More criminal activity takes place with the dollar than Bitcoin can even dream of.
Bitcoin is traceable. Very traceable. The world can see every transaction.
Bitcoin is great, beause it is a reserve asset that can not be printed away from you like every other fiat currency
I do believe it has hit exit velocity.
Fat Piggy Global trading will CONTINUE to have a strong buy rating on Bitcoin.
I think it's possible we see ...... wait for it ..... $250k a coin this year. And $1mm a coin be the turn of the decade. If not sooner.
how long will it take people to realize the dollar sucks? That is the question?
The goal is to depreciate the dollar at 2% a year. During the average lifespan your dollar will decay to worthless. Your BTC will hold its value forever. It might actually gain value because of lost coins.