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You are all missing the the trend over the last 7 years for bitcoin is to create a digital asset that is a store of wealth. To say bitcoin is a payments system
by jcrubino 6y ago
You are all missing the the trend over the last 7 years for bitcoin is to create a digital asset that is a store of wealth. To say bitcoin is a payments system in the sense of cash is to miss the executed tech roadmap where cheap one off transactions is a secondary concern (not bitcoin core's). Listen Saylor talk about MicroStrategy's investment in bitcoin. He is very clear that is a store of wealth and appreciating asset on the books, not a payment rail for MicroStrategy subscription base.
- arcticbull 6y agoThey haven’t changed Bitcoin a single bit since 2008. Saylor sounds like he got taken by the Bitcoin euphoria.
- jcrubino 6y agoThe point is the commenters here on this thread listen to too many youtube crypto channels for an accurate analysis of what bitcoin is and wants to be.
- rrrrrrrrrrrryan 6y agoCurrency has more than two functions. Transferring wealth is not the same as paying for goods, and storing wealth is not the same as holding a speculative asset class. Bitcoin is volatile. Holding it is more like holding gold, not USD. Bitcoin is very easy to move across borders. Moving it is much more like a bank transfer, than paying for a pizza.