Bitcoin will crash below $200 (what is being said every year since the past 5 years)" Very close guys, but it's bouncing around $19K right now. I'm sure you'll be right one day Little Tooths.
-"Bitcoin will eventually be worth its real value- $0". Not looking like it will happen this year. And as long as you have a few people in the world still running Bitcoin and still exchanging it, it will never be 0.
-"No one will be accepting Bitcoin". More than 15,174 retailers accept direct Bitcoin transactions directly worldwide, and 36,659 Bitcoin atms, so 51,833 businesses accepting Bitcoin through their shops via directly or via Bitcoin atms today. And now with Paypal, Strike's partnership with the largest payment processors in the world to use their lightning network integrations where transactions cost less than a penny and settle faster than Visa and Master card combined, and crypto cards, that number is almost limitless. (1) 2 years ago as of 2020 36% of small-medium businesses in the US accept Bitcoin as payment, and that's just the US. The number is much larger today.
-"No one is using crypto for payments". While the number of transactions has increased, no one really knows how much is used for retail transactions. But according to a BitPay survey, 57% of crypto holders and former crypto holders, have used crypto for a retail purchase in the past year. (2) Hell, Sovereign wealth funds are showing interest in it this year because they're noticing a substantial rise in Bitcoin real estate and business sales globally, making it easier to transact than with Dollars that can be frozen whenever the US finds someone guilty for whatever arbitrary thing they choose to ban people from their payment systems. Thanks US, blocking Russia, and so many others from using your dollar has been the biggest Bitcoin marketing to sovereign wealth funds today, hell we even have a Prince working on Bitcoin's adoption by sovereign nations now thanks to that move. The US shooting itself right in the financial foot so Bitcoin can run in its place.
-"Bitcoin has no intrinsic value". It has no physical intrinsic value, but it's the gold standard of an entire tech industry. It's backed by an entire industry of businesses, real world usage, institutions, and technology. Something bigger than a country. And it may not be backed by anything physical to make you trust it. But it's backed by something more solid than rocks: math. Hell, even well known Bitcoin critic Peter Schiff will accept it at his bank, even for the proposes of buying out his bank outright, proving it has value. For if it didn't, he would not accept it.
-"Tether is the only reason the price of Bitcoin goes up, and it will destroy Bitcoin". While Tether is shady and obviously full of shit, it probably won't tank the price of Bitcoin if it ever gets delisted. There's now many stablecoin alternatives. And we've already seen what happens to the market when a top 5 coin gets delisted, when XRP got delisted from major exchanges. Also 2 Berkley professors have already proven that Tether isn't what causes the price of Bitcoin to go up. (3)
-"You will never get your 'institutional investors', that's a pipe dream". Welcome to 2022 and our pipe dream only growing bigger and stronger as every day goes by and more institutions dip their toes in the water. You think you've seen anything yet? Just wait until they reach the fomo faze after a whole cycle of experiencing this warm financial jacuzzi in a blizzarding world of cold dying fiat getting frozen from anyone's control anytime they don't play friendly with a politician.
-"Bitcoin will be banned". It's been tried, it's been done. To no success. If it was gonna be banned successfully, it would have been done already. It's going to be harder now that there's more adoption, acceptance, more citizen holding it, and more importantly, an increasing number of powerful rich people, businesses, institutions, and countries invested in it now. With an increasing number of powerful and influential people, politicians, presidents, and CEOs with a stake in it, it's just not likely to happen now.
-"Bitcoin is a ponzi". Just because you want to sell something for more than you paid, doesn't make it a Ponzi. By definition a Ponzi would need a company or person at the top. Bitcoin is a peer to peer network with no person or company in control. By definition it's also subversive scheme, selling a fake stock that they don't own, and not upfront about what it's doing, with no transparency. Bitcoin is one of the most transparent things. You want to see a real Ponzi Scheme, check out the dollar: https://medium.com/coinmonks/the-modern-financial-system-is-a-debt-based-pyramid-scheme-and-an-investment-based-ponzi-scheme-e37c4154b9
-"No country is ever going to accept Bitcoin as its currency". Oops...El Salvador, the Central African Republic, several independent zones, already do, with Brazil, Mexico, Panama, Russia, and so many more already working on legislation to make it so in their countries as well.
-"Bitcoin is just a fad and will die out". It's been 13 years. And it's going stronger than ever. Can't wait for another decade of r/Buttcoin giving us some brilliant predictions.
Maybe it's time to trade those bags of salt for bags of crypto.
Thank you u/fan_of_hakiksexydays for your original post inspiring this adaptation of your post to fit the modern day's progress since your post that was done only a year ago today.
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