@motherfucker
eternal september
terror management theory
23°
Created 13 Dec 2018
Will Bitcoin ever be mainstream money?
Maybe..
4 months ago
0
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HeatherG
4 439°
I have no idea, not being any kind of expert in Crypto, but you are right. Currency is inherently valuable only if it is traded/ accepted. Example for those in the US: have you ever tried to spend a Susan B Anthony dollar, or a $2 bill inside the US? They are legal tender issued by the government but were never accepted by the populace and are generally only usable to exchange for goods at USPS or banks.
4 months ago
+4
Since there is so little bitcoin in existence, 18 of the total 21 million, it is considered deflationary. Most bitcoin investors don't want to part with their bitcoin via buying or selling items or services because they would rather keep it as a store of value. Like gold, there is such a limited supply that its better kept as a store of value. Rather trade inflationary fiat, since the longer you keep it, the less it's worth, which is the opposite of bitcoin. That seems to be the logic at the moment. In time, if and when bitcoin price stabilizes around $1 million or whatever, then perhaps it can and will be traded more for goods and services.
4 months ago
+2
A currency by function is a medium to exchange value between 2 or more people. It doesn't functionally store value and any speculation and trading on any currency is harmful to it's value as a transaction tool. If money did store value, then a bitcoin should contain the value that it is transferring. ie. My single bitcoin contains the value of a pound of salt. Once the receiver extracts the pound of salt from that bitcoin, then bitcoin has a NULL or empty value. Because we try to equate bitcoin to a fiat value, it is doomed to fail. Bitcoin (any currency) is a contract of agreed upon value at the time of transaction or exchange.
4 months ago
+2
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hack
7 months ago
+5
nastynjka
4 616°
I didn't really catch your point? Do you believe that blockchain is nothing more than some useless thing?
7 months ago
+1
Where do I sign up?
7 months ago
+2
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