Quote from: william8829 on December 16, 2017, 06:36:27 PM

Quote from: Hell-raiser on December 16, 2017, 09:32:01 AM

What does Bitcoin price have to do with the prosperity and well-being of mankind?

Having the ability to store your money in your wallet frees you from having to store money in a bank. You would not have to trust a third party. Peace of mind and well-being go hand in hand.

Quote from: Hell-raiser on December 16, 2017, 09:32:01 AM

Bitcoin is not producing anything and neither does it facilitate smooth exchange of goods and services, directly or indirectly, as money is supposed to. So what's the purpose of Bitcoin other than speculation? More specifically, in what way is it going to add or contribute to the new type of economy you speak of? And man what type of economy is that really, a speculative one?

Volatility will subside with more investment. At that time it can be smoothly exchanges for goods or services.

I don't think volatility is the ultimate culprit behind Bitcoin not being accepted anywhere as a true means of payment. It can be taken care of by hedging, and it seems that big payment processors are doing that anyway. I'd rather say it is insanely high fees and slow confirmation times that make Bitcoin no longer usable as a means of payment.

Besides, I don't think either that Bitcoin is a good store of value. Gold would do a lot better if you just wanted to save your wealth. If you mean speculation, it cannot possibly add to the prosperity and well-being of entire mankind since when someone wins someone has to lose. It is production of goods that makes humanity richer or introducing better money, but Bitcoin doesn't fit here.