It is nearing a decade since Satoshi Nakamoto introduced blockchain technology to the world. His blockchain was the public-ledger technology for his cryptocurrency, Bitcoin or BTC. The past few years in the blockchain community, and thousands of new – and some may argue superior – forms of public-ledger technology have been released.
Throughout this time, however, Bitcoin has stayed the “King” of all blockchains and cryptocurrencies – keeping its place at the top with the largest market capital of all the cryptocurrencies. With over two-thousand currencies now listed on CoinMarketCap, that’s quite an impressive feat.
Bitcoin – Store of Value or Investment?
One of the biggest arguments among the blockchain community is about the future of BTC. There are many people who believe that blockchains with superior scalability and transaction will be used for payment. These people believe that BTC is too slow and transaction fees too high to work as a currency, and therefore see the future of Bitcoin as “digital gold”.
BTC Developers are working hard to implement new features on their blockchain to increase transaction speed, reduce fees, and to get ahead of some of the new-comers. Bitcoin Core v0.17.0 was released with an abundance of new implementations – GitHub link here.
If BTC continues to develop then it is possible that it will be used more as a currency. BTC will go – in which case BTC’s future is not simply a store of value, but still a very good investment.
Winter Is Coming
As we head into Q4 of 2018 there is a lot of speculation going on with the value of BTC. It has become obvious that there are patterns and trends that BTC tends to follow. Q4 has seen tremendous growth for BTC. Even in 2015 and 2016 when BTC dropped in value in Q1 – it still had growth of 79.97% and 58.59% respectively in Q4 of each year.
However, no one can predict the future. 2018 and people are more cautious than they were the same time last year. If Bitcoin does not follow this pattern, then it is likely we are seeing the lowest values for what remains of 2018 right now. Then again, with such a volatile and quickly changing market – BTC could drop to much lower lows during Q4. To buy, or to buy – that is the question.