Post
Topic
Board Bitcoin Discussion
Re: The reason that keeps me from investing in bitcoin
by
cafucafucafu
on 12/08/2017, 02:30:48 UTC

Bitcoin is meant to be an investment, not a mainstream currency that is meant to be used everyday. You don't buy groceries with bitcoin since it isn't ready to be used as a mainstream currency. We, the community are still working out the kinks to it.

I'd like to see where this is stated, even if indirectly, in the original whitepaper.
If you think about it, the block chain doesn't encourage daily spending. The way bitcoin was  made, with the miners encouraged what you said, greed.

As block rewards keep decreasing, the view of looking at bitcoin as an everyday currency decreases, since to make up for the lost block rewards, miner fees would have to be increased. This makes bitcoin useless for smaller dust transaction fees, and encourages people to just hold bitcoin as an investment.