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It's supposed to be a currency, but almost nobody uses it to buy and sell anything. The merchants that do try and adopt it almost always end up abandoning it.
by kjaftaedi 5y ago
It's supposed to be a currency, but almost nobody uses it to buy and sell anything.
The merchants that do try and adopt it almost always end up abandoning it.
It's also difficult for the average consumer to use making it several times easier for people to lose their money or have it stolen while offering no real utility advantage.
- tromp 5y agoWe can blame the emission for strongly encouraging its dominantly speculative use. While its emission is sometimes likened to Gold, it behaves very different in practice. Half of all Bitcoin was emitted in just the first four years, and 99% of all Bitcoin is emitted in its first 3 decades. In contrast, Gold has been emitted for millennia, and emission looks quite flat over the years, with nothing resembling Bitcoin's reward halvings on the horizon of our lifetimes.