Re:Bitcoin, I've Been Here Before
by brucephillips on Friday December 22, 2017 @06:49PM
(#15991870)
> I speculate that at first people want to use it as a store of value, but after a critical amount of holders, and having a lighting network, users and merchants could also adopt it as a currency.
Why would they? Why should I buy things with BTC instead of USD? The fact that I've yet to hear a convincing answer to this most fundamental question is the strongest indicator that BTC is a bubble.
I do agree that BTC could become gold, though.
If you already adopt it as a store of value it can be convenient to use it also for payment if:
- it is convenient
- has low transaction fees
- fast
But I agree, store of value is the most realistic mainstream usecase of cryptos.
Re:Bitcoin, I've Been Here Before
by brucephillips on Friday December 22, 2017 @07:10PM
(#15991992)
USD beats BTC in all of those features.
A conservative scenario is that cryptocurrencies will not really become adopted other than store of value: I think even in this case BTC value can go up tremendously. It has benefits over gold: like easy and fast transport accross countries.