Bitcoin hassles

Bitcoin lost it’s steam this year. Not even close to the last year’s levels. People lost faith in it, but big guys got upset with the buzz it created last December and maybe the slump has something to do with that. It was a threat for the financial system as very potent competitor. Even miners are backing off.

On the plus side, some local governments accept tax payments in bitcoin, some banks and financial institutions started to talk and think about providing services based on BTCs, I guess they will need to buy some stock to achieve this and they need it cheap. Governments will try to regulate it.

There is another economic downturn worldwide coming and let’s see how BTC will handle it compared to the other commodities. 

All in all I think BTC has some unique properties and features none of the existing currencies have and that is why it should have it’s place in the financial world whether or not banks and governments like it. It proved that it is the most resilient crypto currencies without much competition.

If it keeps going down, maybe I should buy more and see.

Leave a Comment


NOTE - You can use these HTML tags and attributes:
<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>