No-one has disputed anything you said. I was replying to @HolyGrailSeeker saying Bitcoin will go to 20k and then 1 million. Ridiculous. I hope he has literally sold everything he has and bought bitcoin, I mean it's a sure thing according to him. You can't use Bitcoin almost anywhere. Listing a few businesses here and there don't make it an usable currency. I'm talking about Visa or cash equivalence. Therefore a competitor could easily destroy them. They are not like Amazon at all.
I don't know about $1M for 1 bitcoin, but I believe bitcoin, barring any major network disruption (i.e. software bugs or what not) can go to $100K or higher. You know, someone asked me in 2013 how high I thought bitcoin will go, and I said possibly $10K, and of course with a shared laughter afterwards. You can go in the forums and search old posts, and you'll see how ridiculous $10K for 1 bitcoin would have sounded like. I didn't fully believe it, myself, as I didn't sell everything I had and went into enormous debt to buy as much bitcoin as I could. Speaking about the US, I've used a bitcoin ATM and it works so well I was enticed to use it a few more times at different locations, for educational research purposes. You can take out $500, with nothing more than an SMS-capable phone number. I'll say that's a cash equivalence, wouldn't you say? https://www.coincloudatm.com/ I heard there are over 4000 bitcoin ATM's worldwide, but can't verify. Also, I got this from one of my google news feed: https://bitcoinist.com/philippines-union-bank-bitcoin-atm/
Right. That's not wide enough though, 4000 globally is nothing. For example, I know of no-one who has paid with bitcoin even once and I'm in my 30s. I'm not suggesting it will never become useful but that it's a long way away. Some crypto will be widely adopted but I figure it has yet to be released.
It will be more stable once its widely used and reached something like a million. Something this early cannot be stable because market cap is so small it can be easily manipulated. Also funny how you talk about currencies, yet Venezuelans are hungrily buying bitcoin to hedge against their rapidly declining fiat.
Amazon did not become Amazon till it became big. Everything starts out from something. Launching a coin is probably easy (I don't have IT background so I wouldn't know), but whether the coin has value is another thing. Since most miners are mining bitcoin and it has the longest and most robust blockchain, it is therefore the most valuable and can't be easily replaced.
Im not saying it will. Im just saying a big if, if it stays based on current trajectory then mathematics says it will reach 1mil by 2027 give or take. Everything starts out small. It may one day not be widely used currency but it is still an excellent hedge against fiat.
What makes it not easily replaceable. That's the crux of the issue. Just because many are mining it, does not make it valuable (any more than current market).
Ethereum Classic got hacked. Not multiple blockchains like the article says. And even so, now founders can ramp up security.
They told already many times that security is no issue. Reality is that all the time coins get hacked and people lose money. "In total, hackers have stolen nearly $2 billion worth of cryptocurrency since the beginning of 2017, mostly from exchanges, and that’s just what has been revealed publicly. These are not just opportunistic lone attackers, either. Sophisticated cybercrime organizations are now doing it too: analytics firm Chainalysis recently said that just two groups, both of which are apparently still active, may have stolen a combined $1 billion from exchanges." Makes me think about comical Ali from Bagdad.