If you noticed though, the article constantly referenced the ability of both consumers and merchants to NOT possess any actual bitcoins. The actual bitcoin is s

If you noticed though, the article constantly referenced the ability of both consumers and merchants to NOT possess any actual bitcoins. The actual bitcoin is so volatile, not to mention the gold-standard-like deflationary nature of them, that convincing most people that holding onto actual bitcoins rather than fiat currency does not seem to be a16z's goal (which is a good decision on their part). So its hard to argue the merits of the article while basically rejecting one of its main points (that you dont need to hold any bitcoins for it to still be super cheap).