Bitcoin Is No Longer Money

A sharp jump in Bitcoin’s cost during 2017 has led to a hype in the entire information space. Such noise brought a lot of users to the network, whose goal is not the use of cryptocurrency as a means of payment, but those who are interested in enriching themselves through speculation in price fluctuations.

The increase in the number of users in the network, as well as the increase in the Bitcoin price and the size of the cryptocurrency block, have caused a rise in the waiting time for the transaction, and also led to an increase in transaction fees. This was the determining factor for’s director, Emil Oldenburg, who sold his savings to BTC and decided to switch to Bitcoin Cash. In addition, his company stopped developing products for Bitcoin and directed all its efforts to work with Bitcoin Cash.
Economist IGN, Teunis Brosens, noted that there is no sense in money for which we can buy a house today and only a car tomorrow. For this reason Bitcoin will soon be used by a narrow circle of individuals for whom security and anonymity are more important than the safety of funds.

Based on the received information, we can conclude that the projected growth of the Bitcoin price could reach 60,000 and 100,000 US dollars, but it will not be money that anyone can use, but a high-volatility financial tool for traders.


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