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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
by nadam 9y ago
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.
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.
- brucephillips 9y ago> 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.
- nadam 9y agoIf 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.
- brucephillips 9y agoUSD beats BTC in all of those features.