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Nevertheless, I don't currently have a significant amount of wealth to manage so my interest in a > new financial system outside the control of existing govern

Nevertheless, I don't currently have a significant amount of wealth to manage so my interest in a > new financial system outside the control of existing governments and corporations would be to utilize its basic functions for something fun and cheap - such as buying coffee, or integrating it into a chatbot that sends my friends pictures of my cat in exchange for a fraction of a coin, or something silly of that nature. If I can't do any of that feasibly, then I have no use for bitcoin at this time, personally.

alwillis 6y ago
would be to utilize its basic functions for something fun and cheap - such as buying coffee… Think of bitcoin as digital gold. If you owned blocks of gold, it wouldn't make sense to scrape some off to buy coffee. Coins, then notes were created because walking around with gold is inconvenient, to say the least. There's no reason why these everyday purchases shouldn't continue to be done using dollars or another fiat currency. It makes more sense to use the continuously inflated dollars which will are losing purchasing power the longer I hold on to them. Bitcoin is expected to continue rising in value… for example, it doubled ($20k to $40k) is 3-weeks. So the $5 worth of BTC I spent on coffee last month would be worth $10 today and probably a lot more in a few months. Why would I do that? Sure, it's been 12 years but in terms of being a monetary good, bitcoin is brand new. It's going to be a while before there's enough people who own bitcoin to make payments make sense. Lightning Network is great, but it's still essentially a beta product and some of the UI/UX issues are still being worked. Lightning is where the internet was back in the 90's before Netscape and broadband networking were available. Early adopters were fine but it wasn't a mainstream thing just yet.

alwillis 6y ago

would be to utilize its basic functions for something fun and cheap - such as buying coffee… Think of bitcoin as digital gold. If you owned blocks of gold, it wouldn't make sense to scrape some off to buy coffee. Coins, then notes were created because walking around with gold is inconvenient, to say the least. There's no reason why these everyday purchases shouldn't continue to be done using dollars or another fiat currency. It makes more sense to use the continuously inflated dollars which will are losing purchasing power the longer I hold on to them. Bitcoin is expected to continue rising in value… for example, it doubled ($20k to $40k) is 3-weeks. So the $5 worth of BTC I spent on coffee last month would be worth $10 today and probably a lot more in a few months. Why would I do that? Sure, it's been 12 years but in terms of being a monetary good, bitcoin is brand new. It's going to be a while before there's enough people who own bitcoin to make payments make sense. Lightning Network is great, but it's still essentially a beta product and some of the UI/UX issues are still being worked. Lightning is where the internet was back in the 90's before Netscape and broadband networking were available. Early adopters were fine but it wasn't a mainstream thing just yet.