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The goal is for everyone to accept it, but bitcoin is still on a journey to become store of value and medium of exchange.

• chii 6y ago
  it'd be a very long journey. the deflationary nature of btc means that people generally don't want to pay in btc, since it would be expected to become more valuable in the future.
  • stale2002 6y ago
    That doesn't make any sense. My amazon stock that I hold is going up in value, and is therefore "deflationary". But it would be silly to say that I would never have a reason to sell those stocks. I sell things, whether they are dollars or stock or crypto, because I want to buy something.
    • chii 6y ago
      if you had 1 amazon share (worth $3286 right now), and $3286 in USD cash, and you wish to buy a $3286 computer, would you rather sell the share to obtain the cash, or transact using your existing USD?
      • stale2002 6y ago
        I would have no preference. It's the same thing. The only difference maybe, is regarding friction. IE, maybe it is a bit more difficult to immediately sell the Amazon stock at a store. But transaction friction is different than the deflation argument.