Morgan Stanley analyst James Faucette stated in a recent client report that Bitcoin's true value may actually be zero.
Morgan Stanley's report titled "Bitcoin Decrypted" discussed the difficulty of assigning a value to a virtual money, pointing out that Bitcoin does not act like currency and is not a savings instrument (like gold, silver).
Faucette assessed some key elements:
Bitcoin can not be treated like a currency because it is not a matter of interest.
-Bitcoin can be likened to digital gold, but in contrast to gold (gold is thought to be used in electronics and jewelery), there is no fundamental use.
- Bitcoin is difficult to scale with the technical sense of being a payment network, and there is no transaction fee.
-Bitcoin's average daily transaction volume for the last 30 days is around $ 3 billion; The foreign exchange market is 5.4 trillion dollars.
- Estimated daily purchase volume for Bitcoin (Visa's $ 17 billion) is less than $ 300 million.
According to Faucette, all these elements point to the fact that dijial money is "virtually unacceptable and shrinking".
Yeah and guess who gives a shit about what this guy has to say?
Anyone? Nope
these sequences are straightforward processes and estimates for bitcoin
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