Bitcoin [BTC] received another glowing endorsement after Block.one CEO, Brendan Blumer, recently stated that Bitcoin will eventually replace gold as the leading store in value commodity.
Blumer tweeted,
Source: Twitter
Brendan Blumer also stated that Bitcoin would essentially split into a light and dark pool. He claimed that the transactions would be fully identifiable, but would remain anonymous too.
Brendan’s claim received a lot of reaction from social media. A Twitter user named Justin Buck commented on the issue, to which Blumer replied,
Source: Twitter
A Twitter user, @CabSav, recently drew attention to the similarities between the gold’s long term chart and Bitcoin’s ongoing market cycle.
Source: Twitter
The user shared an infographic chart which compared the two commodities, with their graphs appearing fairly identical. Both of them pictured a similar trend where the valuation stabilized prior to a significant final downtrend.
Source: Twitter
Brendan also stated that Bitcoin’s future worth will be determined by its coin-specific history. The claim drew more reactions from users as one Twitter user responded,
“but even though all transactions are public, it doesn’t mean you know where they have been. Does this mean that when Pseudonymous transactions are identified as undesirable, this could affect the value of any given coin because of where it has been?”
To this, Brendan Blumer said,
“The integration of #Bitcoin with the existing financial system that everyone has been waiting for will come soon, but it will come with the cost of privacy. The best private currencies are likely to emerge through secure hardware, not public ledgers.”
Collected from various cryptocurrency forum.