The Rise and fall of Bitcoin???

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Disclaimer: This is a prediction based on thumb-sucking and the smoking of very old and smelly socks. Do not let this thread/post be a deciding factor in your current/future investments.

Looking at Bitcoin i stand to question how scary it has become. More to the point i figured i will share my thoughts.

Bitcoin is supposedly a currency and yet more and more people are treating it like a commodity/investment. The reality of this is, some people will trade with Bitcoin and others will keep it.

Speaking to some small miners they simply said mining bitcoin is no longer profitable. This is alarming as the mining of bitcoin does impact its infrastructure somewhat.

My prediction is that Bitcoin will become a supper commodity to the point that the normal person can no longer do anything with it. It will simply become to expensive. At this point it may lose a lot of its value due to lack of interest and availability. Thus I think Bitcoin will lose to its competition purely because it is beyond overvalued.

i could be wrong but this is my prediction for 2018

 

[Rex]

at current situation your prediction are true but Bitcoin lightning network is coming which promises to reduce transaction cost and confirmation delay

I think Bitcoin will lose to its competition purely because it is beyond overvalued

forks are the reason price goes overvalued

 

[Mayhem]

TPTB dont wont bitcoin as a currency, possibly why it may be seen or pushed towards a sceptical investment.

 

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In my opinion mining is a part of Bitcoin's success. The moment mining becomes to expensive and only particular entities can mine and benefit that will spell the end of Bitcoin as people DO want to be part of the system. What Bitcoin is doing is simple they are pushing themselves out of the people's corner into a corporate specialty corner where only the most expensive hardware can transact. The moment that happens i fear many will move towards another. Bitcoin may want to find ways to optimize existing miners and stay away from corporate specialist hardware.