The same day MMM (global ponzi scheme using bitcoin) announces it is pausing operations, the bitcoin price drops $20 in a minute. This is totally coincidental and the recent $100 spike was caused purely by fundamentals and adoption
One billion added to bitcoin market cap by MMM global. Latest use case for bitcoin
Bitcoin value is in the adoption. We have the early adopters up to late 2013 possibly 1 billion. 1 billion more in 2014 and 1 billion in 2015. The MMM ponzi pushed it by another 1 billion from September 2015. This is still growing and could add another billion by years end. Remittance market has not developed yet. As a store of value like gold, if this plays in we will see at least 10 billion like the rise from 120 to 1200 in 2013. That run was squashed by the Chinese govt. It will play again when we least expect. Biggest push will be as a reserve currency but will be years away yet. Not until grandma starts asking about bitcoin. In the broad scale of things, this mmm ponzi possibly push adoption matrix ahead by several years, in a region and among a population that would be slow to adopt new technology.
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