4 ms·
If cryptocurrencies are the currencies of the future and they're not just an investment product for people who want to get rich on hype, prove it to me very sim
by pimmen 9y ago
If cryptocurrencies are the currencies of the future and they're not just an investment product for people who want to get rich on hype, prove it to me very simply; spend your cryptocurrency.
Really, it's that simple; use all of them to buy something disposable, or even invest them if you want, but if you can't bear the thought of being separated from them for something else then I just don't see how their deflationary model is offset by their ease of transaction. They're supposed to be the medium of exchange between valuable goods and services, they're not supposed to be the valuable good itself.
- philipodonnell 9y agoYou are right to be suspicious, but there are a wide variety of cryptocurrencies, some of which are designed to be a medium of exchange between valuable goods and services and some of which are designed for very different purposes. Not all are deflationary. Some are supposed to be the valuable good itself (as a proxy for some physical asset).