Bitcoin
$ 49,194
Ethereum
$ 2,211.6
Litecoin
$ 226.77
okex ads

PETER BRANDT – LOW ADOPTION PUTS BTC PRICE EXPECTATIONS AT RISK

Bitcoin (BTC) may not be “living up to expectations,” one of its best-known supporters from the finance world has warned as prices stagnate.

 Peter Brandt pointed to low corporate interaction in a Twitter discussion on April 20, as an indicator that Bitcoin was not having the revolutionary impact its supporters hoped for.

He suggested that while he understands the idea of Bitcoin being a store of value and an escape from fiat hegemony, it remains a fringe phenomenon.

“The ‘store of value’ premise – I can accept this,” part of one post reads.

“What % of global commerce is conducted through cryptos? How many multi-national corps have line items in financials for BTC?”

Brandt was writing as BTC/USD dipped slightly from $7,000 as the United States oil markets abruptly fell through zero to hit negative prices.

Limited sensitivity to oil meant that Bitcoin averted bigger losses, while proponents argue that the incoming block reward halving will secure its upward trajectory.

In a report, it was “The Bitcoin Standard” author Saifedean Ammous who most recently reiterated the idea that a 50% drop in new coins will keep current price levels intact, even if demand also falls 50%.

For Brandt, however, it appears that despite the mining shake-up argument, a lack of real-world interaction was cause for concern.

In another tweet, he summarized:

“My only question is whether Bitcoin is actually living up to its high expectations. This question does NOT make me a hater.”

A further comment described Bitcoin’s technology as “so solid.”

According to one theory, major enterprise — especially finance — switching to Bitcoin voluntarily would be a self-inflicted wound.

As RT host Max Keiser continues to note on his Keiser Report current affairs show, banks and the broader “banking class” are the main beneficiaries of government economic policy, and have even moved to control it in recent decades.

The bigger and more well connected a company, the easier it is to secure a bailout from the government, using fresh unbacked dollars printed at its behest. At the same time, failing smaller companies see their equity and assets transferred back to the banking system.

Related Posts

Leave a Reply

Newsletter

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

Cardano Founder Charles Hoskinson Shares Thoughts on Ethereum dApps
April 22, 2021By
TURKEY BAN THE USE OF CRYPTOCURRENCIES AS A PAYMENT METHOD
April 22, 2021By
SaaS Company, aXpire to Disrupt Enterprise Software Development Industry
April 22, 2021By

Advertisement

Video Posts

In
Opportunities In Blockchain and Crypto Space
April 21, 20210
In
Blockchain-Based Solution For Security And Scalability For Any Business
April 9, 20210

Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin49,194 1.90 % 9.44 % 22.14 %
Ethereum2,211.6 1.99 % 9.52 % 12.03 %
Binance Coin487.88 1.50 % 11.75 % 10.15 %
Tether0.9958 0.97 % 1.03 % 0.42 %
Polkadot43.88 0.58 % 0.43 % 36.39 %
Cardano1.050 2.18 % 13.35 % 28.86 %
XRP1.030 4.57 % 22.07 % 41.42 %
Uniswap31.69 2.12 % 13.21 % 16.31 %
Litecoin226.77 1.84 % 13.50 % 20.83 %
Chainlink32.28 1.24 % 11.99 % 24.44 %