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That does add some value but it’s fairly weak - people can always choose to switch to something cheaper, capping the maximum - and it adds its own risks: price
by acdha 3y ago
That does add some value but it’s fairly weak - people can always choose to switch to something cheaper, capping the maximum - and it adds its own risks: price spikes might leave you unable to perform transactions within your budget.
- hirako2000 3y agoNo, people cannot always. Sometimes, often maybe, yes. Network effect, security, are some of the reasons.
- acdha 3y agoYes, people can always switch. Unlike a sovereign currency nobody has a legal obligation to use any cryptocurrency, which means everyone is going to assess whether they’d be getting better value using something else.