Yes because our minds often have a hard time comprehending how good things can go while picturing bad is easy. When I had Ethereum at $9 I had a hard time picturing it being $50 let alone $600. When Bitcoin was $200 it seemed insane to picture it at $19,000 for a high and around $9,000 today. The best blockchains still have 100x growth possible while most will fade away. Bitcoin I think is on the way out as exchanges add fiat trading, ETH markets, and BCH. In five years I doubt we will even use Bitcoin as everything is traded in fiat. I think beating the all time high in BTC for Steem is easily achievable
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I just think steem is different... I can upvote myself and get more steem...I can't do that with bitcoin...
I hope the price does spike that high but that would mean when I upvote myself I will make like $120 per post...which will be amazing but I feel it will be unsustainable
It will be unsustainable if SBD is much above $1 like it is now. I think SBD will need to be around $1 maybe even lower for steem to moon.
There will definitely be waves of up and down in the market while early adopters will benefit from the highest rewards as with other cryptocurrencies. In Bitcoin how the miners buy or sell impacts the price a lot just the same as on Steem with the difference being a lot fewer miners get the bulk of the rewards compared to Steem.
If steem hits $60 what US$ value would it make sense for SBD to have?
If SBD was also around $60 that would be ridiculous... like mind blowingly ridiculous and outrageous....almost all of us would be making decent/RIDICULOUS sums of money. Even me at 1,200 SP would BALLLLLLL with those prices
$1 maybe $2 at the most.
To clarify things for me, do you think that BTC will die?
BTC is likely to go the way of myspace where people will just stop using it in favor of other cryptocurrencies because one the idea starts to slip that it is a store of value and exchanges go to trading directly to fiat and other cryptocurrencies, the big Bitcoin holders will unload and it will all be over for BTC.
That could become true one day but Bitcoin itself probably won't ever be forgotten like MySpace
I must agree with what you said here. From when I got into crypto in 2013, I NEVER pictured LiteCoin making it back up to $20 at the time. Now trading at $150 Approximately.
BitCoin I just didn't expect it to go from 3k to 19k so fast, and it did.
I think Steem will be the same thing as LiteCoin. It's trading low right now. <$5. Yeah switching from $3 - 4 back to 3 is crazy, but add a 0 to that and it'll make a difference.
Other Blockchains will someday pass up bitcoin as bitcoin we all know will fade a way. It won't die out completely because there will always be a node online somewhere in the world. Even after the world Apocalypse. BitCoin is a resource hog. It consumes so much power that is destroying our world. To mine the coin, you need massive amounts of money for the hardware. You need a warehouse to put all the computers. And even with all that, you won't be mining a fraction of the hash power.