Post
Topic
Board Bitcoin Discussion
Topic OP
Andresen and Ver wrong about bitcoin.
by
steelhouse
on 27/12/2016, 05:24:30 UTC
Both these guys want to see the block size increase, yet they do not have to pay for it. Despite their negativity bitcoin has risen from $200 to $900, why?  Because bitcoin does not have to be used in daily small transactions.  First governments will not allow it.  The medium of exchange of the world is the USD.  It will remain the medium of exchange as long as inflation is less than 10% a year.  At that point people will move to the lastest new currency, probably the Euro.   Let them pay for all the new fancy paper with pictures of old men and women on them.  The transactions per second will never be enough.  You are delaying the inevitable.  

You go to ebay, amazon, or alibaba they accept the dollar.  They need to accept the dollar for taxes anyways.  Send 1 bitcoin to paypal and you have $900 in store credit.  You prevent the government from benefiting from the inflation.  Over a year your $900 will lose about $50 in purchasing power.  To save $500 more people will use bitcoin, those that don't will see their bank accounts confiscated by debtors and deficit spending.  You have to use bitcoin you have no choice.  Using bitcoin in daily transactions should be discouraged as many city governments need sales taxes to build the roads, build parks, and protect the streets.  Bitcoin should not be used in daily transactions.

Isn't the important thing that bitcoin goes up?