Not in the same way that gold is. Currencies can experience hyperinflation from increased supply (printing money), but until someone finds the philosopher's stone, gold has relatively stable supply (and subsequently - price).
Gold has a relatively stable supply now but back in history we've experienced several gold rushes that I imagine made prices turbulent. From my limited understanding of Bitcoin the supply is also going to be limited and the mining of coins will become harder and harder.
Seems to fit more along the line of gold than a currency.
Because it is designed to be a currency. If it fails to be a currency, it's essentially a scam.
Maybe a middle line would be digital currency, like buying stocks, gold, books online. It's a good sign that I can make international purchases now though.
at least in germany you can pay for your burger in btc if you order it online. For example on lieferando.de which is one of the biggest website for restaurant deliveries in germany
While people all over the world are becoming more conservative, and divided - there are a few movements or platforms that try to level the playing field for all.
The internet started as one of those movements, and these words seem to echo that of the skeptics then.
It's not just about the value of Bitcoin going #tothemoon
Cryptocurrencies and blockchains now give us the opportunity*, infrastructure, and incentive/reward mechanisms to build the future platforms that will not discriminate, or manipulate us, but instead empower and elevate .
I think such a movement, network, and infrastructure is something very valuable that we would lose if they disappear.
Especially now.
If it looks like a bubble and behaves like a bubble, it's a bubble.
No value is created at the rate BTC is rising.
Besides, crypto currency in general is plagued with major problems, from security, to scalability.. it's not worth $500/BTC.
Bitcoin as a way for a few lucky folks to increase their net worth is certainly not something they are skeptical of.
Bitcoin as a means of achieving it's original goal (i.e. a world currency) I'm still highly skeptical of. Why would I want to spend Bitcoin when I could be the next guy who spent BTC0.0001 on a pizza when it becomes worth $100k / coin? The fact that I have to entertain that idea means psychologically I won't treat this as currency. I treat USD and EUR as currency because I don't worry about day-to-day (or even really decade-to-decade) volatility of the currency. BTC has volatility by the _week_. Whether this giant experiment succeeds or not, I have a hard time believing it works as a currency specifically.
Yep. Maybe it's the hourly posts to HN about how great an opportunity it is. Maybe it's the constant need of every Bitcoin "investor" to talk about the price (not value).
To me its just another way wealthy people increase their wealth and avoid paying taxes. No different then a bunch of hedge fund bros talking about using offshore accounts and fake charities to avoid paying taxes.
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[ 3.4 ms ] story [ 35.0 ms ] thread[1] https://en.wikipedia.org/wiki/Tulip_mania
I mean you cannot (at least to my knowledge) buy burgers with gold/ETFs/Stocks, doesn't the same apply to Bitcoin?
Gold is a store of value and ETFs/Stocks are investment vehicles. Bitcoin is designed to be used as a currency.
Gold has a relatively stable supply now but back in history we've experienced several gold rushes that I imagine made prices turbulent. From my limited understanding of Bitcoin the supply is also going to be limited and the mining of coins will become harder and harder.
Seems to fit more along the line of gold than a currency.
Maybe a middle line would be digital currency, like buying stocks, gold, books online. It's a good sign that I can make international purchases now though.
http://www.eltiempo.com/colombia/otras-ciudades/vendedor-de-...
The internet started as one of those movements, and these words seem to echo that of the skeptics then.
It's not just about the value of Bitcoin going #tothemoon
Cryptocurrencies and blockchains now give us the opportunity*, infrastructure, and incentive/reward mechanisms to build the future platforms that will not discriminate, or manipulate us, but instead empower and elevate .
I think such a movement, network, and infrastructure is something very valuable that we would lose if they disappear.
Bitcoin as a means of achieving it's original goal (i.e. a world currency) I'm still highly skeptical of. Why would I want to spend Bitcoin when I could be the next guy who spent BTC0.0001 on a pizza when it becomes worth $100k / coin? The fact that I have to entertain that idea means psychologically I won't treat this as currency. I treat USD and EUR as currency because I don't worry about day-to-day (or even really decade-to-decade) volatility of the currency. BTC has volatility by the _week_. Whether this giant experiment succeeds or not, I have a hard time believing it works as a currency specifically.
To me its just another way wealthy people increase their wealth and avoid paying taxes. No different then a bunch of hedge fund bros talking about using offshore accounts and fake charities to avoid paying taxes.