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The point is that people aren't buying bitcoin to make purchases with it now. There are relatively few merchants that take bitcoin and its cost ineffective to b
by hackinthebochs 9y ago
The point is that people aren't buying bitcoin to make purchases with it now. There are relatively few merchants that take bitcoin and its cost ineffective to buy bitcoin to make the transaction anyways (even without the high tx fees). People are buying now because of the potential and because of exponential increase in price. That bitcoin is bad for coffee transactions right now is irrelevant.
- ktta 9y ago>People are buying now because of the potential and because of exponential increase in price This is the problem though. People are buying it for the price increase, rather than technical merit. It will eventually result in some middle aged couple who took out a mortgage holding the bag when it comes crashing down (if it does. If it doesn't, that's even scarier because that tells us how uninformed most people are.)