you're saying this only because the price isn't stable like other currency, but the price need plenty of time and many people to be stable
if the price would have been stable you would say the same thing? i doubt
Hmm currency.
Is bitcoin a store of valuy? I guess not? The only intrinsic value it has is the ability to move value around. If you do not exchange value into bitcoin i.e. USD/BTC it would be worthless.
it is a medium of exchange, which does not make a currency. Blockchain is a payment rail and bitcoin is medium of exchange.
Or explain to me what makes it a currency?
yeah it is a store of value unlike the fiat garbabe which have 100% infaltion, bitcoin is based on deflation which mean that its value will only grow at the end, how you can not consider this a store of value is beyond me
Deflation has negative consequences same as inflation. I agree that fiat world has intrinsic inflation caused by current monetary system where central bank levies an interest rate on all funds it lends to commercial banks and that what causes it. Hence the only way commercial bank can make money is by landing it further driving inflation. Bitcoin solves this but as the supply is limited you are right in long term it will cause deflationary pressure. In essence this means that a user/holder of bitcoin will be able to buy more with it at a later date if he/she holds on to it for longer as the value will go up. As in the examples of Japan. But this causes another problem, one of the key functions of money/currency is facilitate the exchange of goods and services and if bitcoin is not being used for that instead it is being kept as the value rises it's not performing it's main function as medium of exchange.
So as you can see these two features are interdependent and has direct impact on the value and volatility. At the moment I do not have answer, this is why I started this debate.
Thank you for joining.