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Is it really? If you can't change it for goods and services before turning it back into regular, government controlled currency, is it out of the hands of gover
by TremendousJudge 4y ago
Is it really? If you can't change it for goods and services before turning it back into regular, government controlled currency, is it out of the hands of governments? If China can get all the miners to move to Kazakhstan, were they ever out of government control?
- tresqotheq 4y ago> If you can't change it for goods and services .. There is nothing preventing someone from accepting it and providing the services you need.
- silentsea90 4y agoYou may have answered your own question. You don't need to turn it back into fiat for it to be used in the long run. Lightning network makes txns quick and cheap, and BTC volatility has been going down enough that it isn't hard to imagine it being stabler short term against fiat (though long term it will gain value as fiat collapses)
- bagacrap 4y agobtc volatility has been going down? is this a joke? it's worth a third of what it was less than a year ago. plus every time I sell or transfer, it's a taxable event, which makes use as a currency incredibly onerous
- silentsea90 4y agoNot a joke. In the 2013s it went from $10s to $1000 (100x), 2017 it went from $300 to 20k (70x), 2021 it went from 6k to 60k (10x). In each of these cases, the crash floor is also a smaller multiple. Overall, Bitcoin is becoming more contained in its rise and fall. Indeed, but that's regulation. Regulation can be changed which is where we're heading with greater adoption and mass support. Even if not for the regulation, it'll make Bitcoin the store of value backing currencies in time (this one's my opinion, you don't have to agree)