Quote from: khaled0111 on December 05, 2017, 10:45:58 AM

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- is it a good thing? I think it is but it looks like BTC will become more a commodity and not just a payment system

For now, everything is OK and we are not facing any problems, but when all bitcoins are being mined many expect troubles.
Miners will be the first to be effected since there will be nomore block rewards and you can imagine the negative effects of miners quitting mining
due to low profitability. Consequently, the Bitcoin network will be more centralized.

How so? In 10-20 years transaction fees will already be a major part of mining income. Which means that miners have more than half a century to adjust to mining for transaction fees instead for block rewards.

Quote from: RoommateAgreement on December 05, 2017, 09:00:10 AM

Quote from: simbax on December 05, 2017, 07:56:46 AM

- is it a good thing? I think it is but it looks like BTC will become more a commodity and not just a payment system

a currency doesn't have to be unlimited to be able to perform as a payment system!
you are comparing bitcoin to fiat (which is unlimited) and that is why you are confused.

also you are missing the fact that there are 8 decimal places after 1 bitcoin which makes it bigger for usage in case price was too high. it is something like an ingot of gold versus 1 gram of gold or gold dust for example.

It's not quite that simple. The amount of decimal places doesn't stop Bitcoin from being a deflationary currency. The way we understand economics today, inflationary (fiat) currencies are necessary to allow for economic growth via credit. The latter is up for debate of course, but human history seems to agree. It doesn't detract from Bitcoin's value either way though.