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Blockchain & Bitcoin Conference Turkey

Bitcoin has no price if it can’t be used for paying for goods and services

Bitcoin has no price if it can’t be used for paying for goods and services

Despite the growth of the Bitcoin rate in 2017 by 1500%, the cryptocurrency is practically not used for transactions. This factor lowers its price to zero. Such an opinion was expressed by analysts of the Morgan Stanley banking holding.

Experts specify that bitcoin can’t be estimated similarly to other currencies, because the value dynamics doesn’t reflect interest rates. Bitcoin can’t be also equated to gold, because the cryptocurrency has no material form.

The main problem with bitcoin is that it is almost not used as a mean of payment. Analysts studied 500 large online shops and concluded that in 2016, 5 of them accepted bitcoins as a payment, and the number of such shops in 2017 is only 3.

 

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