RE:Zenith9Hi Sundrez,
I like your angle on the driving innovation part. That is true. However we still need to tackle the "store of value" function. There is no physical aspect to it and in fact there is a large energy tax with the continued use of cryptocurriencies. Also with the rise of quantum computing we will see a significant risk to the integrity of the blockchain as a whole and mining will become exponentially easier which will most likely dilute the value aspect. This will usher in a new era that I am coining "The Quantum Blockchain Era".
This is a nice discussion, I'd like to hear your thoughts.
Zen
SunDrez wrote:
Truly it is a belief, and I am not here to influence nor here to convert people to believe my ideology. Though I as you will see my opinion is extremely bias and very one sided in my belief. First off my definition of BTC is Digital Gold. It is now the most secure way to store wealth. (Please understand this I will not debate, this is my belief, which everyone has their own). Furthermore, wealth is determined by throughput. GDP is based on energy consumption, as a work force uses energy to move a society forward. The more people working, producing and consuming drives an economy. This will increase a countries GDP, this in turn is the economic engine that determines the value of the countrys wealth on a Global Scale. Now let us discuss BTC, and why I believe it will go parabolic. As I am sure many people are aware, Bitcoin Options went live on the CME this month. Now there is a very big difference between Options and Futures. As Futures have been available for some time but Options have just been made available as of January 2020. This in I will define as a noose, and that fiat monetary system fate is sealed, and the strangulation now begins as the old system, society norms, and the old system of monetary thinking all ends. BTC, is the new era, could be referred to the resurrection of outdated or dead value system. BTC is pushing innovation in the development of computational power, and is creating ingenuity in multiple facets. As the development and search for cheaper power resources, the constant upgrading of outdated mining hardware. This innovation is stimulating many other areas of development including AI and Space Technology. The benefit also comes with the fact is we are seeing other avenues that do not destroy mother earth, as anyone who understands what mining earth elements have done to our environment. If you would like reference to an example of pure and utter destruction through the Gold Mining Process please refer to the Giant Mine in the NWT, Canada or Barrick Gold. https://www.nationalobserver.com/2016/06/24/news/canadian-mining-giant-barrick-gold-fired-whistleblower-then-they-spilled-cyanide I could obviously continue, and write a book on my BTC belief, thought I am sure the only thing that will verify what I am speaking of in regards to BTC will be TIME. And currently BTC mining companies are my top investment choice at this time. And when looking at what is available throughout the markets, I have found only three suitable publically traded miners for guaranteed results, and one for speculation. Bitfarms currently is my largest holding of the three. I share this as my belief and I am not looking to convert or to influence anyone, just responding to the previous post. Sun Drez