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Bitcoin, at the moment, isn't used as a currency. Nor is it very viable as one. Instead, it is a store of value, much like gold. Using something as a store of
by rocqua 7y ago
Bitcoin, at the moment, isn't used as a currency. Nor is it very viable as one. Instead, it is a store of value, much like gold.
Using something as a store of value has much less of a scale requirement. You only need a few people that will be willing to exchange your Bitcoin into something else in order for it to work as savings / an investment. Whereas a currency requires multiple places where you buy goods to accept it. Moreover, those places only really have a reason to accept a currency if multiple customers would use that currency.