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Bitcoin is essentially deflationary. If Bitcoin maintains its utilitarian value, it will only grow in monitary value since less and less coins will be minted u
by RandomBacon 7y ago
Bitcoin is essentially deflationary. If Bitcoin maintains its utilitarian value, it will only grow in monitary value since less and less coins will be minted until no coins are minted, and also as people lose access to their keys.
I speculate that in the future, Bitcoin might become valued so highly, that people don't even bother using it in favor of other coins, and as people don't use it, no one then accepts it, then it loses value, and by then people are accustomed to using other coins, and Bitcoin dies. Who knows, I probably won't live long enough to see it.
- behringer 7y agoNo matter how unpopular it becomes, it'll just be lowered in value, eg, deflated, but still usable. It will never fail unless the cryptography underlying it (or a bug in the design) causes it to fail.
- kamyarg 7y ago> I speculate that in the future, Bitcoin might become valued so highly, that people don't even bother using it in favor of other coins, and as people don't use it, no one then accepts it, then it loses value This is similar to Gold with the difference that it still holds value, it is so expensive that usual shops don't accept it though but still has high value, am I missing something?