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"You simply can't grow an economy like it's the 20th century with gold, or BitCoin" Well, the past 4 years have proven you wrong. Explain how the Bitcoin econ
by mrb 13y ago
"You simply can't grow an economy like it's the 20th century with gold, or BitCoin"
Well, the past 4 years have proven you wrong.
Explain how the Bitcoin economy has been able to grow so much since 2009? Why is it that 10,000+ merchants decided to use Bitcoin through Bitpay alone? Why is it that Bitcoin gains more and more users every day?
The answer is that, even if deflation was a problem, which is itself debated [1], Bitcoin's advantages such as being censorship-resistant are unparalleled by any other currency, and that alone gives Bitcoin the ability to succeed where no other currency could.
[1] http://www.forbes.com/sites/jonmatonis/2012/12/23/fear-not-deflation/ http://www.forbes.com/sites/jonmatonis/2012/12/23/fear-not-d...
- Guvante 13y agoBut Bitcoin isn't a currency for vendors, that is how the problem was solved. It is an investment strategy for consumers and a transaction method for vendors, but not truly a currency. He was talking about whether Bitcoin will ever become a currency not backed by USD (or whatever) and postulating why that will never be the case. Bitcoin is currently surviving off its liquidity, not its value as a currency.
- sounds 13y agoLiquidity is one of the values of a currency. You might want to study up some more on what currency is, and what it is not.