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Review on Bitcoin by Not that it really matters

Revainrating 3 out of 5

Bitcoin isn't fantastic, but it still has potential to reach 100k

Bitcoin is worse than lots of other cryptocurrencies out there. However, it's still better than a lot of other traditional fiat currencies, like USD, or means of storing value like Gold, Silver or Diamonds.

It might reach a price of $100 thousand in the near future (12-18 month) if it continues to exhibit patterns it showed in the last 8 years post-halving.

Each time previously Bitcoin reached the new high after the halving and then depreciated each time by close to 50% from the new all-time high.

Once again, if the trend continues, and we should really expect it to, given that it worked without fail four times in a row, we may soon see Bitcoin hit 6 figures and then a likely correction to the 50 - 70k level.



Pros
  • Widespread adoption
  • A much better mean of storing value then gold
  • It is what got most interested in the crypto world and the idea of decentralization
  • An example of how a truly international currency may functin
Cons
  • Comparatively high transaction fees
  • Transaction take a relatively long time to go through (compared to Visa)
  • Low network throughput. If many people started using BTC right now, the network simply won't be able to handle it.
  • Bitcoin's POW consensus call for very energy-intensive and ultimately useless process of mining, which raises many environmental concerns

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