Post
Topic
Board Economics
Re: investment mode of btc is best or currency mode???
by
Maddinson100
on 04/12/2017, 08:13:35 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.
Yea, it is easy to say everyone should spend now, but the fact is that in reality, you can even hardly spend without converting to fiat first which is still spending as far as I know. Therefore, since we are seeing a lot of activities going on in most of the trading platforms, I consider it as exchange from hand to hand which is still spending but a different way. Until we start seeing more merchants accepting and real life usage becomes easy, before we start seeing people spending.