Post
Topic
Board Economics
Re: investment mode of btc is best or currency mode???
by
JacksonMonroe
on 24/11/2017, 10:33:44 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.
People are not going to do something that goes against their interests, people do not use bitcoin right now because they do not find it practical, but when bitcoin finally becomes what we know it can become a fast way to make payments all around the world, people are going to use it instead of fiat.
In order for bitcoin to have received such quality as you say should totally change the conditions for its use. Now bitcoin is used for accumulation and indirectly supports Fiat. Because in order to make purchases, we are forced to change their coins for Fiat. All purchases we make for Fiat. This means that we will never give up Fiat.
The main purpose why bitcoin has been created is to be used as a currency, and because of its volatility people come up of an idea on how to grow their bitcoins, their are also lots of methods and ways to grow your bitcoin, and as you said " we are forced to changed their coins into fiats"? well its not like that, nobody is forcing you, and besides there are also lots of new investors that we do not know maybe daily, so volatility was being taken advantage in order to gain and grow your bitcoin. That's it.
I agree with you i think investment mode is the best for BTC because people are actually making a lot from it and people are becoming rich everyday currency mode is not so good in my opinion because bitcoin is not supposed to be real life money.