Post
Topic
Board Economics
Re: investment mode of btc is best or currency mode???
by
merchantofzeny
on 20/11/2017, 19:54:11 UTC
A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

The price of something goes up if it's desired, and has a certain set of properties that make it a good long term holding.

Bitcoin first needs to be a store of value, a currency is the next step after that, and thus far we are still in the store of value process. We need to defeat gold as store of value. Daily usage of BTC will come with lightning networks. We don't need to do anything other than keep developing the technology and people will freely choose to use it as a currency, until then it's just digital gold.

This is how I tend to use it. I only convert to fiat what I needed to use and try to keep the rest for holding. I still find it a bit silly to use it to buy stuff considering how the price can still rise. Maybe that would change once we've defeated gold and fiat, or at least bitcoin comes to their level of use. I mean, how many people here get their salary in bitcoins?