The bitcoin market is in deep shit once the general public finds out Lightning Network isn't a valid scaling solution. Sure, it works as a CENTRALIZED scaling solution, but not a decentralized one. Not that the base bitcoin network itself is even decentralized in the first place.
The market can remain irrational longer than you can remain solvent, but on a long enough timeline, dumping bitcoin for silver (while silver is at the floor) is the best move you can make in the long run right now. Sure, some idiot could pump BTC higher, but there is no valid scaling solution, and it's useless without scaling. It's value prospect is also supposed to be based on decentralization, and it's not even decentralized either! There's no god damn fundamentals for it anywhere! It's all just a pump and dump scheme at this point.
I don't get this. BTC doesn't have to be for buying your fucking coffee in the morning. It can be more like the SDR or bank wires. I envision it as a settlement structure for very large transactions. It DOES NOT HAVE TO SCALE! Use sidechains and altcoins to buy your goddamn starbucks...jesus, this isn't that hard folks.
Also, as someone with an Ag DCA just over $12 I really don't see current prices as a "floor"
Nice product placement for ZeroHedge though, I'll give you that.
Bitcoin has ZERO, I repeat, ZERO value as a settlement layer because there already exists far better settlement alternatives - noble metals (gold and silver). This is why currencies were always derivatives of them in the past. Bitcoin has built-in middle men (transaction validators) and counter party risk while metals DO NOT. Bitcoin is a rent seeking usury system where miners expect to get a cut out of every transaction like the mafia while metals ARE NOT.
You need to be a complete lunatic to believe bitcoin somehow has better fundamentals as a settlement system than metals. Can you imagine issuing currencies as a derivative of bitcoin when bitcoin is already only a currency and not money in the first place? LOL. For the the 500th time, bitcoin is a currency, not money, which is why it's called "cryptocurrency". The value of currencies are derived from transaction flow, NOT stock.
you seem like a good person to ask. what are your feelings on paper metal vs holding bullion? or better phrased, what is better to you, the liquidity of "token" gold/silver (silver is looking choice, btw) or the certainty of bullion? ive had the bright idea as of late to peg to a certain GLD/BTC orderbook instead of USD/BTC, my usual haunt. im figuring im not going to be subject to the run on Nubits/Tether than happens when the price moves. serious price movement usually unpegs it(Nubits/Tether) from USD, and you may end up buying it at a premium because the demand is so high.
im saying all that to say this; want your opinion on if im doing alright using digital gold as a safe haven from bitcoin volatility, or should I just cash out and actually buy some metal, and sit tight. I know ill have more growth potential with the digital gold, due to aforementioned liquidity, but silver/gold are pretty solid. like, bedrock solid.
never considered using the alts for "small" commerce. i do it, when I move funds between exchanges (its usually cheaper to covert to DOGE, pay a nothing withdrawal fee, and buy back into my desired coin). had never considered the implications of doing it as a feature, slick idea
