Post
Topic
Board Speculation
Re: 21 millions bitcoiners
by
Hopalong
on 01/08/2015, 23:22:03 UTC
Zimbabwe did not choose a currency with a very limited suply. They choose dollars. Rest of what you said does not make sense at all. Nobody will sell a single bitcoin if bitcoin seems to be the dominant currency. Give me a single sane way bitcoin could replace fiat.

I don't like this your spirit, it means you can't understand what I write.
I may be wrong, but you are being a bit too presumptuous in your statement for my taste.You are the one claiming something that cant be for real. It is a dream bitcoin hoarders have that is not shared by anyone else

You say: nobody will sell bitcoin if that's the dominant currency.
That's in part true.
But think for a moment: why are people selling $ or €? THESE ARE DOMINANT CURRENCIES. People are not selling those. They are using them
The only problem will come when there will be so few shops around accepting fiat currency, that nobody will want to give you some BTC in exchange for fiat: what the hell will they do with that currency?This is just wrong. If a fiat fail they make a new one. Why bother with some digital "money" only a handfull people have?
Not your business: there are always people less clever than others that remain stuck to something even when it's going to be completely useless.

There are people still using light bulbs, just because a led light is more expensive than holding that light bulb.If the price of led rised to insane hights just because someone wanted to buy them nobody would swap out their light bulbs
They can't even understand how much electricity they pay every year with that bulb.
Other people can't even believe you can have an electric scooter and pay 1.3 € for 100 Km travel.

There will probably be some communities that will want to remain on paper currency because "fuck government wants to spy our every move with online transactions! I won't allow them!" in example (I heard a lot of this).

So, dude, it's ok, I may be wrong, but what I write has a sense, maybe you can't understand it fully now, but you will in the future.

Also, the fact that Zimbabwe has choosen dollars doesn't change a bit my reasoning: one day, some unlucky retarded guy will still have 900 betatrizillion zimbabwe dollars, will go to the bank and the bank will give him 5$ for that. And those may be his savings of one life. If some guy from Zimbabwe wanted to buy bitcoin from you with those 900 betatrizillion zimbabwe dollars, would you sell? I guess you would not and the same will happen i a fiat fail.
That's exactly what will happen with Bitcoin: somebody is first, somebody is last. The last ones will cry.