Why Bitcoin will not succeed and remain like art
There are a lot of cryptocurrencies around. Bitcoin is the 800-pound gorilla among them. They all promise that one day, at least one of them will replace national currencies and free the people from centralised government control. This will happen if one day, one of them will be circulating among the population and function as money alongside the national currency.
Since Bitcoin is the largest and most popular among all of them, it is easy to make the bet that it will be the winner of the cryptocurrency race and gain the ascendency to become the people’s money.
But Bitcoin has a fatal flaw. It has an Achilles Heel.
Please note that I am NOT suggesting that Bitcoin is a bubble that will pop one day and will become worthless. What I am suggesting is that Bitcoin will not become money. Instead, Bitcoin will remain like expensive art for the foreseeable future. Just like art, each Bitcoin will probably be worth something substantial, but it cannot function like money that can be used to pay for goods and services.
So, what’s the big problem with Bitcoin?