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For those 10%: Do you see BitCoin as an actual currency that you can buy stuff with, or purely an investment?
by vaylian 5y ago
For those 10%: Do you see BitCoin as an actual currency that you can buy stuff with, or purely an investment?
- max_ 5y agoPeople buy BTC so they can sell it for USD. Most BTC sits idle in exchanges like coinbase.
- zonethundery 5y agoI'm new at this, having just purchased some miners, but have followed the space using a similar logic. For the 10% view I'd consider the insane amount of institutional money chasing the entire value chain, which will not be shy about protecting itself. The policy environment is still evolving; the FinCEN travel rule will put the hurt on crypto ATMs and the exchanges (to some degree). But it's good collateral, it doesn't (generally) have storage costs like gold, the growth of supply is well understood. Potential positive catalysts remain, including a US btc ETF, the impact of cme's micro contract, and geopolitical developments further constraining the supply of ASICs. Its clear from the above that I view it more as a store of value than something you should spend as a currency. Ethereum-world (incl stablecoins) seems to have a lock on the latter. It will be interesting to see what happens when ETH shifts to POS.
- jhgb 5y agoWho in his sane mind would use an appreciating asset as currency?