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We are arguing about the wrong two questions: 1) What is the right value of 1 Btc? $0 or $100, or $1000? 2) Can it replace government issued currencies? The ri
by bayesianhorse 14y ago
We are arguing about the wrong two questions:
1) What is the right value of 1 Btc? $0 or $100, or $1000?
2) Can it replace government issued currencies?
The right question to ask is
3) What is Bitcoin good for?
It's not currently good at storing value over the long term. Short term it worked most of the time.
And that's been the pattern in the bitcoin economy: Transfer globally, or in transactions where other payment options are prohibitively expensive, and exchange bitcoin for your local currency by local and transparent means.