@stewbits22 21 July 2021 more from that month

Apart from speculation does Bitcoin have a long term use case? If no one is using Bitcoin as cash but only as a speculative asset, then nothing is driving the price but speculation and not adoption as part of day to day life. At some point in the future Bitcoin will hit a maximum price of speculation that will never be repeated leaving a lot of late entry purchasers massively out of pocket. It will likely then find a stable price for a while as an an inflation hedge. But what is worrying is you still need mining activity to protect the network and the miners admit (see interview below) that mining fees will be needed to keep securing the network. Who will pay these massive fees when speculation has ended and there are no day to day users making up the difference? The majority of Bitcoin is held now by long term investors so they will not be paying the fees. Something has to give. Miners will abandon the network and move to another chain (BCH) that has adoption. We will then see the difficulty on Btc collapse to a much lower level. Price at this point may also collapse as the smarter hodlers can see where the network is headed. The good news is this wont happen for a while yet. https://youtu.be/Kb2_8saab7Q