Saturday, March 28, 2020

[Theory Discussion] Bitcoin is Not As Digital As We Thought

I am pretty sure that Bitcoin would eventually break the $10,000 again at one point soon, but the current pandemic shows us that Bitcoin is not as stable as we have perceived it to be during such events.

Despite it being a digital currency, it requires a lot of hardware so that it remains decentralized and the ability to mine it.

Therefore, Bitcoin might remain unstable until a cure for the virus is found or that almost everyone in the world is exercising proper social distancing by remaining at home.

If there aren't as many people managing the hardware then how will Bitcoin have a bigger market?

Disagree or agree? Other thoughts and opinions?


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