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Because you need it to make purchases, just like a real world currency. When the Euro goes down, everyday people don't just liquidate all their holdings to USD,
by sn_master 6y ago
Because you need it to make purchases, just like a real world currency. When the Euro goes down, everyday people don't just liquidate all their holdings to USD, because USD isn't accepted in their countries. Take a look at dark.fail or the FBI statements, whenever they shutdown an onion market there is always hundreds of millions in BTC sales they uncover.
Without the dark web markets since The Silk Road in 2011, and now Tesla and big legal companies, coins would have no real purpose to exist. The hype alone isn't enough to keep them all this time and dark web markets aren't quick into adapting new coins each time. Many have ditched BitCoin to Monero only because of the privacy factor, not growth.
- endisneigh 6y agoThe euro doesn't have a fixed supply so your comparison doesn't make any sense to begin with. A better comparison would be like a tree that produces fruit. Once you're at the maximum amount the tree can ever produce why wouldn't you harvest? There's no longer any reason to wait.
- sn_master 6y agoAn actual use case would be If I am a drug dealer using XMR or BTC to buy and sell my stuff, even if the growth slows down, I can't switch to another coin unless the market does too. Big amount of BTC trades happen in exchange for goods and services and often time switching coins isn't an option there.