Last updated on January 12th, 2018 at 03:08 pm
It is evident that as of now Bitcoin is not commonly used for transactions (except for illegal activity) and it is very unlikely this will change in the foreseeable future. What we are left with is a store-of-value mechanism, which, some would argue, is similar to gold, but not better in any way, in the age of ETFs, when gold is traded digitally.
People who are buying Bitcoin these days are mainly speculating, believing that cryptocurrencies are the new and easy way to get rich. But, at some point, the price will stop going up, and then people will be stuck with a “currency” that has zero use.
Eulogy made by Amit Karp