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If your point is, "other currencies suck too", it's not a good one. The entire goal of bitcoin was to be better than these currencies. The writer of this articl
by chjj 14y ago
If your point is, "other currencies suck too", it's not a good one. The entire goal of bitcoin was to be better than these currencies. The writer of this article simply said bitcoin doesn't work as a currency. The fact that there are (unsurprisingly) a lot of failed currencies out there doesn't make bitcoin a better currency. This isn't a school paper where the grade is curved.
- RickHull 14y agoBTC is still the adoption / speculation phase. As the market share increases, it should tend to stabilize. If Felix is saying that Grandma shouldn't take out a BTC loan, then I agree completely. But it might be a different story in a few years. Also remember that there are two sides to currency volatility. If the USD/BTC rate is changing, it could indicate USD volatility.
- Nursie 14y agoIt's difficult because bitcoin has to keep deflating in the long run, and with deflationary currency loans are less attractive - every BTC is worth more tomorrow than today so they are harder to pay back and you can make money just by sitting on them.
- iSnow 14y agoWe are a long way from that - but ultimately this could result in a competition between BTC and $ where loaners would prefer BTC and debtors would rather take out loans in $. In the end this would result in a much higher interest rate for $-denominated loans and near-zero interest rate for BTC-loans.