Re:Cambridge Bitcoin Electricity Consumption Index
by elvatoloco55 on Wednesday February 10, 2021 @06:29PM
(#26096273)
The goal is for everyone to accept it, but bitcoin is still on a journey to become store of value and medium of exchange.
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Re:Cambridge Bitcoin Electricity Consumption Index
by chii on Wednesday February 10, 2021 @07:02PM
(#26096516)
it'd be a very long journey. the deflationary nature of btc means that people generally don't want to pay in btc, since it would be expected to become more valuable in the future.
Re:Cambridge Bitcoin Electricity Consumption Index
by stale2002 on Wednesday February 10, 2021 @09:19PM
(#26097496)
That doesn't make any sense.
My amazon stock that I hold is going up in value, and is therefore "deflationary".
But it would be silly to say that I would never have a reason to sell those stocks.
I sell things, whether they are dollars or stock or crypto, because I want to buy something.
Re:Cambridge Bitcoin Electricity Consumption Index
by chii on Thursday February 11, 2021 @01:21AM
(#26098812)
if you had 1 amazon share (worth $3286 right now), and $3286 in USD cash, and you wish to buy a $3286 computer, would you rather sell the share to obtain the cash, or transact using your existing USD?
Re:Cambridge Bitcoin Electricity Consumption Index
by stale2002 on Thursday February 11, 2021 @04:35AM
(#26099767)
I would have no preference.
It's the same thing.
The only difference maybe, is regarding friction. IE, maybe it is a bit more difficult to immediately sell the Amazon stock at a store.
But transaction friction is different than the deflation argument.