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@Travis_Kling: "Bitcoin is a non-sovereign, hard-capped supply, global, immutable, decentralized digital store of value. It's an insurance policy against moneta
by kleer001 6y ago
@Travis_Kling: "Bitcoin is a non-sovereign, hard-capped supply, global, immutable, decentralized digital store of value. It's an insurance policy against monetary and fiscal policy irresponsibility from central banks and governments globally."
- ineedasername 6y agoBut it's not practically usable for transactions, which means if the economy tanks tomorrow and you have bitcoin, you won't be able to spend it. In fact the increased demand to spend it combined with fixed amount of transactions allowed would mean all of the new demand would cause massive inflation in bitcoin transaction fees as more and more people need to use it. This isn't anti-crypto. This is anti-bitcoin as a practical asset if things hit the fan.
- mlthoughts2018 6y ago? it seems like you are expecting bitcoin to achieve the same ease of use as a payment processor like Visa, but that is not and never has been the goal or point of bitcoin. “Ease of use” is a relative term. Bitcoin is deeply impractical compared with fiat currencies backed by strong governments. Who cares? It is deeply practical when compared to fiat currencies for unstable or severely corrupt governments.
- kleer001 6y ago> if the economy tanks tomorrow and you have bitcoin Precisely which economy? The world? You're going to have a lot more problems than just spending money if the world economy crashes.