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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (20185)	10/24/2017 1:12:12 AM
From: Elroy	1 Recommendation Recommended By John Pitera Read Replies (1) \| Respond to of 33421

This thing is not regulated, it’s not under control, it’s not under the supervision" of any central bank, he said. I don't agree with those reasons for why Bitcoin will eventually collapse. I think Bitcoin has two disadvantages - 75% of it (the 16 million coins already mined) is already the possession of someone. This gives a big incentive for those who are wealthy but own zero Bitcoin to try to destroy Bitcoin. - It's easy to duplicate. Just look at all the forks. You just need to get mass adoption, that's the hard part, but doing what Bitcoin does is not that tough. So I think at some point some wealthy enterprise/person will release a new crypto which is not already mined, easier to use than Bitcoin (it's integrated as an app in Android, IOS and on the desptop in Windows), it's mineable by a PC processor or a cell phone processor, and it's inexpensive for transactions and decentralized. Voila, it's better than Bitcoin. And..........the rest of the world starts from zero in acquiring it. Who would want to keep Bitcoin as the dominant crypto coin once this new crypto is created? And when Bitcoin doesn't go up every year, why would any of the current Bitcoin hoarders (I'm going to guess 90% of Bitcoin holders just hold) continue to hold when Bitcoin doesn't just go up in value each year/month/hour? That's my theory, something like that. It just takes Microsoft and Google a few million to offer a crypto-like coin function......for free. Voila - Bitcoin is exposed as the coin with no clothes.