Bitcoin Price: Why it Doesn’t Matter

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Bitcoin Price: Why it Doesn’t Matter

Here at NewsBTC, every day we get asked what will happen to the price of bitcoin. Will its value versus the US dollar gain or decline over the next few days? While these may be valid questions for intraday speculation, the real question – as far as we’re concerned – is what is bitcoin ten years from now. What can it be used for in the future, and what will be its future value?

Wences Casares recently said this:

In Spanish, we have a saying that when a genius points at the moon, a fool looks at the finger. I find that happens a lot with bitcoin.

In our opinion, this sums up the situation perfectly. Bitcoin, and the blockchain technology, is the internet of the future. 30 years ago nobody was sure why or what purpose the Internet would serve. Then came email. As soon as the Internet fulfilled a popular “consumer driven” purpose, it became mainstream. The rest is history. Bitcoin is no different. Yes – it could well serve as the currency of the future. Yes, bitcoin could replace PayPal and Western Union. Yes, digital currency could be the answer for developing world remittance payments. But this does not matter. Let’s look at the moon.

The framework that those in the digital currency space are laying down as we speak will be looked upon as the foundations of the technology that will dominate commerce and personal activity for the next 40 years. Here at NewsBTC we are proud to be involved in what we see as the early days of the biggest and most disruptive technology of the past 20 years, and we would love to hear your opinions on where you think the digital currency space is heading.

Is it naive for people outside (and inside) the space to look at bitcoin as a means of exchange? Should we be looking at the technology that underlies bitcoin and trying to imagine how that technology might be applied to other scenarios? As dirsrupters, it is our responsibility to look at the bigger picture – so, let’s do just that.

Forget price, think bigger. Let us know what you think.