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"Used for every transaction" is a high bar; I suppose USD and the gold dinar have both failed, oh well. If we used a more reasonable metric, like "will bitcoin
by blotter_paper 7y ago
"Used for every transaction" is a high bar; I suppose USD and the gold dinar have both failed, oh well.
If we used a more reasonable metric, like "will bitcoins being worth significantly more in ten years than they are today," OP may well be wrong. You can think I'm crazy for saying that, but neither of us can really know at the moment.
- okcando 7y agoUSD works as currency because it has a pretty stable and small rate of deflation, a property that the fed tries to maintain. It works to trade value and gives a subtle nudge to promote trading. Bitcoin had the mission statement of being a currency, which it has failed at. It's instead a highly volatile (and potentially highly profitable) investment. So someone could be right that Bitcoin would not succeed (at being a useful currency) and still have been wrong to not buy in (they should have gotten in when the getting was good for the very reason it would fail to be a currency). But it was and is more like gambling and less like "mattress money".