Bitcoin — I think there is misunderstanding what currency is and why the hell we need bitcoin. Currency, above all, is a payment method. Not less, nor more. We hold currencies in our possession, simply since we BELIEVE that if we will give it to someone, this someone shall give us something in return, which we can value. Either USD, CAD or PHP, the rates of these are subject to our (or analysts that we trust) BELIEF. BELIEF that the silver coin I am holding right now has value.
The bitcoin future depends on 2 things:
- Need (!!!) — if no one needs it, why would it have any value. Should the banks find easy platforms to send and receive money, the bitcoin is otiose.
- Stability — the average person would buy bitcoin if he thinks that he can pay for goods/services with it or alternatively he can sell it to another with a profit. If the bitcoin rate is unstable (ups and downs), the average person shall keep out