A lot of commentary is suggesting that many are converted altcoins to bitcoin ahead of upcoming forks to get "free coins". The contrarian in me is wondering about going the other way before the forks. If this theory is correct, there will likely be easing of the bitcoin price and flow of funds back into altcoins after the fork. I don't personally see much coming of Bitcoin Gold.
And it is above 6,000 USD now. Believe your eyes. The big question: is this an "organic growth" of the market or, just a bubble? The first one would mean it's spreading, the second needs no introduction (we've seen it with gold).
When I can pay for a tank of petrol, a packet of cigarettes or a beer at a pub using my phone and paying in bitcoin, I'll consider it. I have yet to see any place in Melbourne do this.
For me this is the investment VS currency debate. I do not expect to be able to "spend" investments, stocks, bonds, metals. I do have that expectation of currency. Just for today I am happy to hold my crypto and have it be my fiat that is spent.
