bitcoin investment cryptocurrency economy internet Bitcoin has been pronounced dead almost 100 times by news outlet after news outlet. Year after year, we find articles from notable news outlets such as The Washington Post , The Guardian , Forbes , and even a former bitcoin developer concluding that bitcoin is dead and that it is time to move on. Yet it’s still here.
We, at XBT Provider, believe that the price of bitcoin is suppressed and that we are soon going to see an upward correction in the price that could break the previous highs of over $1,000 per bitcoin. We do not share the general view in mainstream media that bitcoin is soon forgotten, but instead, we believe that it will be an integral part of our financial lives, just like the internet is today.
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Permissioned blockchains will not outcompete bitcoin Open platforms, like bitcoin or the internet are all heavily dependent on network effects to gain traction. As an example, we can compare the development of the open internet in comparison to closed company versions of it.
While the internet was not the only protocol being developed for sending information, it won over similar centralized solutions because of its open characteristics which in the end led to faster innovation.
We believe that bitcoin is at a similar stage as the internet in the 1990s. We are seeing multiple centralized blockchain solutions being developed by companies, similar to what was promised about the internet. However, looking at the internet as a roadmap of what will come, we have a firm belief that bitcoin will become the dominating blockchain for the transfer of value in the not too distant future. Bitcoin will remain the dominant cryptocurrency
The Bitcoin blockchain is not the only blockchain, and there are […]
