The culture of Bitcoin is changing, cementing cryptocurrancy into the future

in LeoFinancelast month

Untitled design28.png
It wasn't too long ago when when Warren Buffet called Bitcoin a "Mirage" even the reputable investor Jamie Dimon labelled Bitcoin a "Fraud which later led him to withdraw his remarks as he went onto invest in Bitcoin. Mainstream media and regulators and governments across the world went on the attack. Labelling Bitcoin and cryptocurrancy as a form of black economy funding terrorism and even child trafficking. It became a focus point of much of negative debate.

images.jpeg4.jpg

However, during a virtual conference held on December 1 2019 Larry Fink, chief executive officer of asset-management giant BlackRock went on the record to state that Bitcoin has captured the hearts and minds of people across the globe and that it was in fact here to stay. This announcement came on the back of a previous CNBC segment where Rick Rieder said Bitcoin “is here to stay,” the segment went onto be the highest ratings of all financial segments of that year.

Untitled design68.png

Whose leading Bitcoin investment

As it turns out, middle America is leading the push and pressuring regulators to allow the investment of Bitcoin. In fact beyond the typical Gen Y investor through decentralised exchanges the second largest cohort of investors are middle class women.

Tania Modic, an investor based in Lake Tahoe, Nevada has been buying up Bitcoin for a number of years as a means to store her wealth without the complexities of formal means of investment.

Untitled design69.png
In fact, gold reserves in the US saw a withdrawal of $US2Billion withdrawn in October 2019. At first it was anticipated that the cash was being stored due to the looming financial crisis. But further investigation by JPMorgan has provided an insight into where the money is going, Bitcoin.

This has led a plethora of financial institutions to reboot and refocus their investing portfolios so also include Bitcoin. At current Bitcoin is still seen as anarchistic with high and low swings. But what has also been identified is that the coin is currently under valued. With PayPal and Visa announcing they will now be accepting payment in Bitcoin it has provided stability and purpose for the cryptocurrancy.

However, investors are beginning to shy away from Bitcoin and their new focus is on Ethereum as it is a strong coin with a brighter future.

What are your thoughts? Will Ethereum surpass Bitcoin?

Posted Using LeoFinance Beta

Sort:  

Etherium can be a better trading volume, but it can not be more expensive than Bitcoin. This is just my opinion.

Posted Using LeoFinance Beta

Depends on the market and what the market is willing to pay for control and a piece of the action

!ENGAGE 25

Thank you for your engagement on this post, you have recieved ENGAGE tokens.

No I think Bitcoin will be at the top price-wise. It is limited and the big institutions are like whales gobbling it all up. Meanwhile Ethereum still has some issues and they are working on fixing it.

!WINE

Posted Using LeoFinance Beta


Cheers, @jfang003 You Successfully Shared 0.100 WINE With @melbourneswest.
You Earned 0.100 WINE As Curation Reward.
You Utilized 1/3 Successful Calls.

wine-greeting


WINE Current Market Price : 10.000 HIVE

This is true but when you calculate the circulating supply, costs and returns then Ethereum is a better option as it is an application. Bitcoin is just a #.

The financial roofs are there because of limited funds. Once trading becomes legal that roof becomes larger

!WINE


Cheers, @melbourneswest You Successfully Shared 0.100 WINE With @jfang003.
You Earned 0.100 WINE As Curation Reward.
You Utilized 2/3 Successful Calls.

wine-greeting


WINE Current Market Price : 10.000 HIVE

Time and effort is of essence here and if the energy put into Etherium is higher than bitcoin in terms of usage and trust placed on each. Then it's possible for Etherium to overtake bitcoin. It'll only take a long time if not forever

!WINE

Posted Using LeoFinance Beta


Cheers, @marvinix You Successfully Shared 0.100 WINE With @melbourneswest.
You Earned 0.100 WINE As Curation Reward.
You Utilized 2/3 Successful Calls.

wine-greeting


WINE Current Market Price : 10.000 HIVE

I think a few years and we will see changes !WINE


Cheers, @melbourneswest You Successfully Shared 0.100 WINE With @marvinix.
You Earned 0.100 WINE As Curation Reward.
You Utilized 3/3 Successful Calls.

wine-greeting


WINE Current Market Price : 10.000 HIVE

We'll definitely see changes with time.

Thanks for the wine😋😋

Posted Using LeoFinance Beta

Congratulations @melbourneswest! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You published more than 1000 posts. Your next target is to reach 1100 posts.

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP