4 ms·
A higher money velocity => lower BTC/USD, but yes, the current price implies a huge future growth of the bitcoin economy. This is what sam is saying and I agree
by tpeng 13y ago
A higher money velocity => lower BTC/USD, but yes, the current price implies a huge future growth of the bitcoin economy. This is what sam is saying and I agree. I happen to think that we will not see that growth/adoption, but that is a different question.
- im3w1l 13y agoOops, yeah, I meant the other way around.
- tpeng 13y agoThere's no obvious reason why BTC velocity should go lower than USD velocity. If anything, its electronic nature and potential for fast settlement times should indicate a much higher velocity than USD M2.
- im3w1l 13y ago>Note that sam's point about merchants immediately converting BTC back to USD serves to increase the money velocity (perhaps by >10x). If this changed, it could at least get closer to the velocity of usd.