Post
Topic
Board Bitcoin Discussion
Re: Bitcoin fails on all 6 objective measures
by
jseverson
on 27/12/2017, 05:17:59 UTC
Bitcoin is a store of value - no
It is failing as a store of value as the extreme volatility makes it like storing water in a bucket with holes in the side

You conveniently forgot to mention that volatility works both ways. It has increased more than 1500% for the year. Bucket with holes on the side, with a massive faucet refilling it.

Bitcoin is an investment asset - no
The extreme transaction times prevents any normal type of trading of an investment asset, drastically reducing market liquidity - meaning it has failed as an investment asset

'Investing' in Bitcoin typically involves nothing more than HODLing it, so transaction times isn't such a big factor. It's a fact that pretty much everyone has been able to multiply their initial investment.

Bitcoin is community driven - no
The community has clearly been shouting for something to be done in terms of the transaction costs and transaction times, but devs don't care

They're prioritizing the Segwit GUI for core. That counts for something.


Bitcoin is for the poor - no
Only the rich are benefitting, with the poor now seeing their money being trapped behind a "wall" of transactions fees in excess of 100$

Bitcoin isn't for the poor. It's for everyone. $100 is exaggerated. It's true the fees are ridiculous right now but things are slowly getting back to normal, with the backlog starting to clear up.

I kind of agree with everything else, but I trust that the issues will be resolved. Bitcoin is still in its infancy in the grand scheme of things.