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Can you please point me a source where Bitcoin is "desired" as a payment method? It's seen more of a store of value, not used for paying for everyday things.

by bradam 5y ago

afavour 5y ago
You’re asking for a source to prove that people want to use a cryptocurrency as currency? Feels a little like asking for a scientific paper proving that fish swim in water.
- thecupisblue 5y ago
  I would also love to have that source. Any statistics on % of crypto used for actual transactions vs only for trading?
deleted 5y ago
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tartuffe78 5y ago
The "store of value" thing was made up to keep the speculation bubble inflating when it became clear Bitcoin had no practical use.
- DebtDeflation 5y ago
  Isn't the revisionist history amazing? All of the other use cases (e.g. smart contracts) are proven failures and now the original use case (payment method) is also clearly a failure, so the narrative shifts to "it was never intended to be a payment method, only a store of value". A store of value that can drop 40% in days, BTW, another failed use case.
ncallaway 5y ago
Sure! The original Bitcoin whitepaper from Satoshi Nakamoto is available here: https://bitcoin.org/bitcoin.pdf https://bitcoin.org/bitcoin.pdf It is titled "Bitcoin: A Peer-to-Peer Electronic Cash System" So, based just on the title, it's pretty clear that it's original intent was as an electronic payment method. The first sentence of the abstract is: "A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" If you read the rest of the whitepaper it's pretty clear that the original intent was as a mechanism to facilitate payments and transactions.
- deleted 5y ago
  [deleted]
- overtmind 5y ago
  That's BSV, maybe. Bitcoin core deviated from the original white paper long long ago
  - ncallaway 5y ago
    Are you arguing that the original Bitcoin whitepaper is invalid as a source of whether Bitcoin is "desired" as a payment method? Clearly, at least one person (the author of the whitepaper!) "desired" Bitcoin as a payment method. They desired it so much, that they went off an invented it! If that doesn't count as a source indicating what someone "desires" then nothing does.
zzbzq 5y ago
It's not about it being valued as a currency for its objective characteristics, but rather based on the limitless enthusiasm of crackpot ideology
deleted 5y ago
[deleted]

Can you please point me a source where Bitcoin is "desired" as a payment method? It's seen more of a store of value, not used for paying for everyday things.

by bradam 5y ago

Can you please point me a source where Bitcoin is "desired" as a payment method? It's seen more of a store of value, not used for paying for everyday things.

afavour 5y ago

You’re asking for a source to prove that people want to use a cryptocurrency as currency? Feels a little like asking for a scientific paper proving that fish swim in water.

thecupisblue 5y ago
I would also love to have that source. Any statistics on % of crypto used for actual transactions vs only for trading?

deleted 5y ago

[deleted]

tartuffe78 5y ago

The "store of value" thing was made up to keep the speculation bubble inflating when it became clear Bitcoin had no practical use.

DebtDeflation 5y ago
Isn't the revisionist history amazing? All of the other use cases (e.g. smart contracts) are proven failures and now the original use case (payment method) is also clearly a failure, so the narrative shifts to "it was never intended to be a payment method, only a store of value". A store of value that can drop 40% in days, BTW, another failed use case.

ncallaway 5y ago

Sure! The original Bitcoin whitepaper from Satoshi Nakamoto is available here: https://bitcoin.org/bitcoin.pdf https://bitcoin.org/bitcoin.pdf It is titled "Bitcoin: A Peer-to-Peer Electronic Cash System" So, based just on the title, it's pretty clear that it's original intent was as an electronic payment method. The first sentence of the abstract is: "A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" If you read the rest of the whitepaper it's pretty clear that the original intent was as a mechanism to facilitate payments and transactions.

deleted 5y ago
[deleted]
overtmind 5y ago
That's BSV, maybe. Bitcoin core deviated from the original white paper long long ago
- ncallaway 5y ago
  Are you arguing that the original Bitcoin whitepaper is invalid as a source of whether Bitcoin is "desired" as a payment method? Clearly, at least one person (the author of the whitepaper!) "desired" Bitcoin as a payment method. They desired it so much, that they went off an invented it! If that doesn't count as a source indicating what someone "desires" then nothing does.

zzbzq 5y ago

It's not about it being valued as a currency for its objective characteristics, but rather based on the limitless enthusiasm of crackpot ideology

deleted 5y ago

[deleted]