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Review on Bitcoin by Not that it really matters
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
