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> Hardest parts are converting cash There is a powerful network effect taking place: the more people accept Bitcoin, the smaller the need to convert to cash, c
by mrb 9y ago
> Hardest parts are converting cash
There is a powerful network effect taking place: the more people accept Bitcoin, the smaller the need to convert to cash, causing Bitcoin's convenience to increase bit by bit, causing more people to use it, etc. That is what we have been seeing over the last 7 years. And Bitcoin ATMs are becoming the most convenient way to convert to cash. They are popping up around the world at an impressive rate: https://coinatmradar.com/charts/#growth https://coinatmradar.com/charts/#growth
> poor store of value compared to a bank account
On the contrary, savings accounts are a terrible store of value as they lose value over time: a 1% interest rate is eaten by a 3% inflation rate.
- sebleon 9y ago> powerful network effect taking place is this actually happening, or is this wishful thinking? > bitcoin ATMs cool concept, unclear when there will be enough of these outside of USA to make a dent in the remittance market > savings accounts are terrible agreed, losing 2% annually sucks. however, BTC literally dropped 14.88% today 0_0 unclear if it will continue to grow or drop, only volatility seems inevitable