I'd like to start this post with a disclaimer:
This is not a clickbait title. I don't want to seed doubt or anything like that. This is a legitimate question from a rookie crypto investor.
Now that we got that out of the way, let's get to the main topic of this post.
I won't go into the details of Tesla's move investing in Bitcoin because many fellow Lions have done it much better than I ever would and I'm sure if you are reading this, you definitely read something about it too.
The price increase and the message that was sent to the mainstream market are all very exciting. Even though I started investing in BTC only a few days ago and own a very small amount of it, profit is still profit and I'm very happy with the short-term results and long-term possibilities.
However, being a chemical engineer and a project manager, risk management is part of my daily life and, because of that, I always like to do the exercise to look on the other side of things.
The problem here is, as I stated before, I'm very new to the world of crypto and I don't have the knowledge or the experience to evaluate all the possible outcomes of this and so, I'd like to ask you:
Do you see any risks for BTC in the long term? How could this go wrong?
Do you see any risks for BTC in the long term? How could this go wrong?
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I think the long-term risk for Bitcoin is that it will eventually be replaced by other cryptocurrencies that are faster, cheaper, offer more utility (such as staking, voting, purchasing NFTs, etc), and are more user-friendly. Bitcoin will likely retain value in the short term, but a lot of the capital flowing into Bitcoin now will eventually find its way into more innovative "alt-coins", whose communities grow stronger by the day.
Interesting point of view! Thanks for sharing!
I agree and I hope that HIVE and LEO are among those coins that will see some of this capital inflow!
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Hi. It's the actual question of this problems. But the tendency remains the same, raising prices so far.... one could guess that once the number of bitcoins become stable and if the massive use is achieved, continues rising would be achieved... but who knows for sure?
Have a great day.
@tipu curate
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Upvoted 👌 (Mana: 13/78) Liquid rewards.
It seems to be the tendency indeed! I guess we'll have to wait and see!
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